CVS unit Omnicare wins court approval for sale to GenieRx
CVS unit Omnicare wins court approval for sale to GenieRx
ReutersWed, May 13, 2026 at 8:26 PM UTC
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CVS unit Omnicare wins court approval for sale to GenieRx
May 13 (Reuters) - Omnicare, a unit of health insurer CVS Health, said on Wednesday a U.S. bankruptcy court has approved the sale of its business to GenieRx Holdings.
Here are some details:
• GenieRx is a partnership between private investment firm Milrose Capital and healthcare investment and management firm Integro Asset Management.
• The transaction is expected to close later this year, subject to regulatory approvals and customary conditions.
• Omnicare did not immediately respond to a Reuters request for financial details related to the deal.
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• Omnicare said it will continue to operate normally until the deal closes, maintaining pharmacy services for customers in skilled nursing and assisted living facilities.
• The company said the sale would help strengthen operations and support continued delivery of reliable pharmacy services, with a focus on clinical care and pricing transparency.
• Jenner & Block LLP and Haynes Boone are serving as legal counsel, Houlihan Lokey is serving as investment banker and Alvarez & Marsal is serving as restructuring advisor to Omnicare.
• In September, Omnicare filed for bankruptcy to resolve issues related to its litigation in the U.S. District Court for the Southern District of New York.
• Omnicare is a major provider of pharmacy services to the long-term care market, serving an aging population across the United States.
(Reporting by Siddhi Mahatole in Bengaluru; Editing by Shailesh Kuber)
Source: “AOL Money”
