AmerisourceBergen To Buy Sterile Preparations Provider PharMedium For $2.58 Billion
AmerisourceBergen Corp. said on Tuesday it was buying PharMedium Healthcare Holdings for $2.58 billion from private equity investor Clayton, Dubilier & Rice. The pharmaceutical company expects the acquisition of the provider of compound sterile preparations (CSPs) to hospitals to be completed during the first quarter of 2016, and to increase fiscal 2016 earnings per share by 22 cents to 26 cents. AmerisourceBergen expects the deal to generate synergies of $30 million by fiscal 2018. "PharMedium's impressive track record of growth and proven ability to consistently deliver high quality CSPs in key therapeutic areas make them the undisputed leader in an important growth area of the U.S. healthcare market," said AmerisourceBergen Chief Executive Steven Collis. AmerisourceBergen's stock, which edged up 0.6% in premarket trade, had lost 12% over the past three months, while the S&P 500 has slipped 4%.
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