US nursing homes drugs provider Omnicare explores sale

Omnicare Inc, an Ohio-based Fortune 500 company that provides drugs and services to nursing homes, is exploring a sale, Bloomberg yesterday reported, citing people with knowledge of the matter.

Omnicare, which has a market value of $8.2 billion, is working with financial advisers to seek buyers, and the sale process is at an early stage, the report said.

Omnicare is a major supplier of drugs to nursing homes across the US. It is the market-leader in professional pharmacy, related consulting and data management services for skilled nursing, assisted living and other chronic care institutions.

The company also provides key commercialisation services for the bio-pharmaceutical industry through its Specialty Care Group.

It posted net profit of $144 million last year on revenues of $6.4 billion.