PharMerica Corporation (NYSE: PMC), a national provider of institutional pharmacy and hospital pharmacy management services, announced today that it has acquired substantially all the assets of Lone Star Pharmacy based in Garland, Texas. Lone Star Pharmacy is a full service pharmacy to long-term care and assisted living facilities primarily in Dallas and Houston. The transaction closed on December 31, 2010, and was financed with existing cash and borrowings under the Company's revolving line of credit. The Company expects the acquisition to be accretive to earnings in 2011.
“This transaction is a great fit for PharMerica. Lone Star adds to our presence in important markets where we have existing operations. We look forward to working with Lone Star's excellent clients and serving the needs of their residents.”
Greg Weishar, the Company's Chief Executive Officer, stated, "This transaction is a great fit for PharMerica. Lone Star adds to our presence in important markets where we have existing operations. We look forward to working with Lone Star's excellent clients and serving the needs of their residents."
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