Long-term care pharmacy PharMerica intends to merge with BrightSpring Health Services, a large provider of home- and community-based care. The two companies will be under the private equity ownership of KKR, with an affiliate of Walgreens Boots Alliance (Nasdaq: WBA) holding a minority stake, according to an announcement issued Tuesday.
Full financial terms of the transaction were not disclosed.
Louisville-based PharMerica specializes in serving the long-term and post-acute care spaces, including assisted living and skilled nursing facilities, as well as hospitals. Acquired by a joint venture between KKR and Walgreens Boots Alliance in 2014, PharMerica operates across 96 institutional pharmacies, 20 specialty home infusion pharmacies and five specialty oncology pharmacies in 45 states.
Recently, PharMerica executives stated their intention to aggressively pursue growth in the assisted living arena, and this will not change as a result of this transaction, according to BrightSpring CEO Jon Rousseau, who will lead the combined organization.
“That is certainly a top growth opportunity for the organization,” Rousseau told Senior Housing News.
Home- and community-based care giant BrightSpring Health Services — formerly known as ResCare — is also based in Louisville. It is one of the country’s largest providers of diversified home- and community-based health services, serving seniors as well as a sizable population of non-seniors and individuals with intellectual or developmental disabilities. Home health, hospice and personal care services are among the diverse business lines of BrightSpring, which provides services for roughly 60,000 people daily across 40 states.
Read the full story at Senior Housing News.