Omnicare Inc. said Friday it will buy American Medserve Corp. of Naperville for $234.2 million in cash and assumed debt, adding pharmacy services in six states and expanding them in five others.
Omnicare will pay $18 a share in cash for American Medserve. On Friday, American Medserve shares jumped $2.06, to $17.56, while Omnicare shares slipped 62 cents, to $30.
The purchase is Omnicare’s seventh since April, as the company builds a network of pharmacies to serve nursing homes, retirement centers and other long-term care facilities. The purchase of American Medserve adds sites in Colorado, Louisiana, Minnesota, Nebraska, Maryland and South Dakota to that network.
American Medserve, which manages pharmacy services for about 51,400 residents in 720 facilities in 11 states, last year had a loss of $2.6 million, or 29 cents a share, on revenue of $82 million.
