LOUISVILLE, Ky.--(BUSINESS WIRE)-- PharMerica Corporation (NYSE: PMC), a national provider of institutional pharmacy and hospital pharmacy management services, today announced that the Master Pharmacy Provider Agreement with Kindred Healthcare Operating, Inc. (“Kindred”) has been amended. Under the amendment, the parties agreed to contract terms effective January 1, 2011, through December 31, 2013. During the contract period, the contract is not subject to competitive bidding. The Company is maintaining its 2011 guidance.
In commenting on the Master Pharmacy Provider Agreement with Kindred, Gregory S. Weishar, PharMerica’s Chief Executive Officer, said, “We are pleased to continue our relationship with Kindred. We have strengthened our partnership by establishing a firm foundation for the future.”
PharMerica Corporation is a leading institutional pharmacy services company servicing healthcare facilities in the United States. As of December 31, 2010, PharMerica operated 97 institutional pharmacies in 43 states. PharMerica’s customers are institutional healthcare providers, such as nursing centers, assisted living facilities, hospitals and other long-term care providers. The Company also provides pharmacy management services to long-term care hospitals.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company’s current estimates, expectations and projections about its future results, performance, prospects and opportunities. Forward-looking statements include, among other matters, the information concerning the Company’s “guidance” and possible future results of operations, the Company’s ability to purchase acquisition targets, the accretive affect of completed acquisitions on the Company’s operating results and financial position, the impact of recent acquisitions on long-term shareholder value and the Company’s market share, the potential impact of the expected conversion to Average Manufacturers Price, the potential impact of planned investments in customer service and operating technologies and the strength of the Company’s financial performance during 2011. Forward-looking statements include statements that are not historical facts and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “plan,” “may,” “should,” “will,” “would,” “project” and similar expressions. These forward-looking statements are based upon information currently available to us and are subject to a number of risks, uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Important factors that could cause the Company’s actual results to differ materially from the results referred to in the forward-looking statements we make in this press release are included in the Risk Factors section set forth in the Company’s Annual Report on Form 10-K filed with the SEC and in other reports, including Quarterly Reports on Form 10-Q, filed with the SEC by the Company.
You are cautioned not to place undue reliance on any forward-looking statements, all of which speak only as of the date of this press release. Except as required by law, we undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events. All subsequent written and oral forward-looking statements attributable to us or any person acting on the Company’s behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this press release and in the Risk Factors section set forth in the Company’s Annual Report on Form 10-K filed with the SEC and in other reports filed with the SEC by the Company.
Michael J. Culotta, 502-627-7475
Executive Vice President and Chief Financial Officer
KEYWORDS: United States North America Kentucky
INDUSTRY KEYWORDS: Health Hospitals Pharmaceutical Other Health Managed Care