PharMerica Buys Millennium Pharmacy - Quick Facts

(RTTNews) - PharMerica Corp (PMC), a provider of institutional, specialty home infusion, hospital and oncology pharmacy services, Friday closed its acquisition of Millennium Pharmacy Systems. Terms of the deal were not disclosed.

Millennium is a pharmacy services provider to the long-term care industry that operates seven institutional pharmacies primarily in the Mid-Atlantic region.

PharMerica expects the acquisition to increase its annual revenue by about $120 million and be accretive to earnings commencing in the first quarter of 2015.

PharMerica has completed acquisitions that generate approximately $220 million of annualized sales, in the aggregate, in 2014. Looking forward, the company's goal is to generate at least $100 million of annualized sales, in the aggregate, in 2015.