COVINGTON, Ky.--(BUSINESS WIRE)--July 11, 2005--Omnicare, Inc. (NYSE:OCR), the nation’s leading provider of pharmaceutical care for the elderly, today announced that it has agreed to acquire privately held excelleRx, Inc., a provider of comprehensive pharmaceutical care services, primarily for hospice patients, for a total purchase price of $268,750,000 in cash. ExcelleRx, based in Philadelphia, Pennsylvania, provides pharmaceutical products and pharmaceutical care services for approximately 400 hospice agencies with approximately 48,000 patients in 46 states. Through three state-of-the-art call centers in Philadelphia, Memphis and Phoenix, excelleRx pharmacists and client support staff work with hospice nurses and physicians to provide clinical consultations and process patient medication orders. ExcelleRx fulfills prescription orders through its two mail service pharmacies in Philadelphia and Memphis and through a network of pharmacies throughout the U.S. Total revenues for excelleRx are currently running at the annualized rate of approximately $130 million.
