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Amerita, a Subsidiary of PharMerica, Expands into Arizona Through the Acquisition of Altius Healthcare
[July 01, 2014]

Amerita, a Subsidiary of PharMerica, Expands into Arizona Through the Acquisition of Altius Healthcare

LOUISVILLE, Ky. --(Business Wire)--

Amerita, Inc., a wholly owned subsidiary of PharMerica Corporation (NYSE:PMC), announced today that it has acquired Altius Healthcare. Financial terms of the transaction were not disclosed.

Altius provides home infusion and specialty infusion services from two locations in Prescott and Tucson, Arizona. The company treats patients at home, doctor's offices, assisted living facilities, ambulatory infusion centers and other non-hospital settings.

Greg Weishar, PharMerica's Chief Executive Officer, said, "Acquiring Altius makes strategic sense for both Amerita and PharMerica. The acquisition advances Amerita's plan to become the premier specialty infusion service provider in America and solidifies PharMerica's already strong position as a leading national provider of institutional, specialty home infusion, and oncology pharmacy services. We are pleased to have reached this agreement and to continue growing through accretive acquisitions that create further value for PharMerica shareholders."

Jim Glynn, Chief Executive Officer of Amerita, said, "Altius has long been a quality provider of infusion servicesin Northern and Southern Arizona. We plan to continue Altius's existing operations and expand its service offering by building local specialty infusion capabilities in the Phoenix market, Arizona's largest MSA. Our goal is to build a responsive service model that will enable Amerita to exceed the expectations of referral sources and to provide quality care for patients throughout the entire state of Arizona."

Kevin Nestrick, the founder and CEO of Altius Healthcare said, "The sale of Altius Healthcare to Amerita is a great opportunity for the company as it will allow us to better compete in the healthcare marketplace. Amerita has the size and scale needed to win on a national level with a local network that our patients can count on. Amerita's culture fits well with our business model where patient care and customer service are paramount. We expect a seamless transition and are excited about the many benefits of this transaction for our patients, employees and other stakeholders."

About Amerita

Amerita, Inc. is a wholly owned subsidiary of PharMerica. The company provides complex pharmaceutical products and clinical services to patients outside the hospital. The market is expanding through a growing bio-pharmaceutical pipeline of infusible and injectable medications, an aging population that requires additional healthcare services and the country's need to find more affordable care alternatives.

About PharMerica

PharMerica Corporation is a leading institutional pharmacy services company that services healthcare facilities in the United States, provides pharmacy management services to hospitals, specialty infusion services to patients outside a hospital setting, and offers the only national oncology pharmacy and care management platform in the United States . PharMerica operates 95 institutional pharmacies, 14 specialty infusion centers and 5 specialty oncology pharmacies in 45 states. PharMerica's customers are institutional healthcare providers, such as skilled nursing facilities, nursing centers, assisted living facilities, hospitals, individuals receiving in-home care and other long-term alternative care providers.

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