AmerisourceBergen and Kindred Healthcare Announce Investor Meeting for the New Institutional Pharmacy Services Spin-Off PharMerica Corporation
Live Event Webcast Scheduled for Wednesday, August 15 at 12:15 p.m. ET
VALLEY FORGE, Pa. & LOUISVILLE, Ky.--(BUSINESS WIRE)--July 18, 2007--AmerisourceBergen Corporation (NYSE:ABC) and Kindred Healthcare, Inc. (NYSE:KND) today announced that PharMerica Corporation will hold an informational investor meeting on Wednesday, August 15, 2007 to introduce the financial community to PharMerica Corporation. PharMerica is the institutional pharmacy services company that will result from the proposed combination of the institutional pharmacy businesses of AmerisourceBergen and Kindred Healthcare. The transaction is expected to close on or about July 31, 2007.
PharMerica's Chief Executive Officer Gregory S. Weishar, Chief Financial Officer Michael J. Culotta and Chief Operating Officer Mark A. McCullough will present at 12:15 p.m. ET on August 15. A live webcast of the presentation and question and answer session will be available on the PharMerica web site at www.pharmerica.com under Investors: Webcasts and Presentations. The webcast will be archived for 30 days after the event.
"PharMerica is well positioned to capitalize on growth opportunities in the institutional pharmacy sector," Weishar said. "Our national platform, scale and standardized operating platform position us to capitalize on the Medicare Part D opportunity in the market while also participating in our industry's strong organic growth. We believe that this combination will create a company with the singular focus and financial strength required to serve the needs of the long term care market."
Parties interested in attending the event in New York City may contact Moira Conlon of The Abernathy MacGregor Group at 213-630-6550 or firstname.lastname@example.org for more information.
About PharMerica Corporation
PharMerica Corporation will be an institutional pharmacy services provider dedicated to providing quality customer service and innovative pharmacy solutions to institutional customers and patients in long-term care settings. PharMerica will be a public company formed through the combination of the institutional pharmacy business of national healthcare services company Kindred Healthcare Inc. and pharmaceutical services company AmerisourceBergen. As a result of this combination, PharMerica will rank as an industry-leading U.S. provider of institutional pharmacy services in terms of annual revenues. Headquartered in Louisville, Kentucky, PharMerica will serve more than 100 facilities in 40 states including 310,000 licensed customer beds under contract, and we will have approximately 5,500 employees nationwide.
Information related to the transaction and business combination is available in the amended Form S-4/S-1 Registration Statement filed with the Securities and Exchange Commission under Safari Holding Corp. on July 13, 2007, available at http://www.sec.gov.
PharMerica Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding our position to capitalize on growth opportunities in the institutional pharmacy sector, Medicare Part D and our industry's organic growth and our belief about the effects of the combination of PharMerica LTC and KPS, that are based on current expectations, estimates, our beliefs and assumptions. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," and "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or implied in the forward-looking statements.
Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In light of these and other uncertainties, the inclusion of a forward-looking statement in this press release should not be regarded as a representation by us that our plans and objectives will be achieved. You should not place undue reliance on these forward-looking statements. Factors which could cause our actual results to be materially different from those expressed in or implied by the forward-looking statements we make are set forth under the captions "Cautionary Statements Regarding Forward-Looking Statements" and "Risk Factors" in our registration statement on Form S-4/S-1 filed with the Securities and Exchange Commission. The information and the forward-looking statements in this press release are as of the date of this press release and we undertake no obligation to update this information as the result of subsequent events or developments, other than as required by law.
AmerisourceBergen (NYSE:ABC) is one of the world's largest pharmaceutical services companies serving the United States, Canada and selected global markets. Servicing both pharmaceutical manufacturers and healthcare providers in the pharmaceutical supply channel, the Company provides drug distribution and related services designed to reduce costs and improve patient outcomes. AmerisourceBergen's service solutions range from pharmacy automation and pharmaceutical packaging to pharmacy services for skilled nursing and assisted living facilities, reimbursement and pharmaceutical consulting services, and physician education. With more than $64 billion in annual revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and employs more than 13,000 people. AmerisourceBergen is ranked #29 on the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
About Kindred Healthcare
Kindred Healthcare, Inc. (NYSE:KND) is a Fortune 500 healthcare services company, based in Louisville, Kentucky, with annualized revenues of $4.5 billion that provides services in approximately 600 locations in 38 states. Kindred through its subsidiaries operates long-term acute care hospitals, skilled nursing centers, institutional pharmacies and a contract rehabilitation services business, Peoplefirst Rehabilitation Services, across the United States. Kindred's 56,000 employees are committed to providing high quality patient care and outstanding customer service to become the most trusted and respected provider of healthcare services in every community we serve. For more information, go to www.kindredhealthcare.com.
CONTACT: For AmerisourceBergen:
Michael N. Kilpatric
Vice President, Corporate & Investor Relations
For Kindred Healthcare:
Susan E. Moss
Vice President of Corporate Communications
The Abernathy MacGregor Group
Moira Conlon, 213-630-6550
SOURCE: AmerisourceBergen Corporation