PharMerica announces acquisition of Integrity Pharmacy Services for cash

PharMerica Corporation (NYSE: PMC), a national provider of institutional pharmacy and hospital pharmacy management services, announced today that effective December 31, 2009, it has acquired Integrity Pharmacy Services for cash. Integrity has operations in Florida, Massachusetts and Pennsylvania and generates approximately $60 million in annual revenues. This transaction is expected to be accretive to the Company in 2010.

“Consistent with our growth strategy, we are pleased to have completed this acquisition in 2009. Our acquisition pipeline continues to grow, and we are confident our overall growth strategy will provide shareholder returns.”

In commenting on the transaction, Gregory S. Weishar, PharMerica Corporation’s Chief Executive Officer, said, “Consistent with our growth strategy, we are pleased to have completed this acquisition in 2009. Our acquisition pipeline continues to grow, and we are confident our overall growth strategy will provide shareholder returns.”