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Omnicare, Inc. is an American company working in the health-care industry. It was established in April 1981 as a spinoff of healthcare businesses from Chemed and W. R. Grace and Company . It is currently a pharmacy specializing in nursing homes. [ 1 ]
In August 2011, pharmacy services provider Omnicare made a bid of $457 million for all outstanding shares of PharMerica. [ 8 ] [ 9 ] The Federal Trade Commission sued Omnicare to block the deal on the basis that the FTC believed the acquisition would lead to higher drug prices.
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MinuteClinic is a division of CVS Health (NYSE: CVS) that provides retail clinic services. [2] MinuteClinic was initially started as QuickMedx [3] by Dr. Douglas Smith and his patient Rick Krieger, along with Stephen Pontius in Minneapolis, Minnesota.
The lawsuit resulted in a 2012 provisional settlement totaling $2.3 billion, [40] with Omnicare having already settled for around $100 million. [40] Four states were awarded damages: Louisiana ($258 million in 2010), South Carolina ($327 million in 2011), Texas ($158 million in 2012), and Arkansas ($1.2 billion in 2012).
Medco was a member of the S&P 500 and ranked number 34 on the 2011 Fortune 500 list, [1] with 2011 revenues of more than $70 billion. [2] From 2008 to 2012, the company was ranked first on Fortune magazine's World's Most Admired Companies list in the Healthcare: Pharmacy and Other Services category.
Omnicare is a provider of pharmacy services to the long-term care market for patients in skilled nursing and assisted living facilities throughout North America. The company was acquired by CVS Health in August 2015, and is operated as a wholly owned subsidiary of CVS Health Corporation.