VALLEY FORGE, Pa.--(BUSINESS WIRE)--July 25,
2006--AmerisourceBergen Corporation's (NYSE:ABC) PharMerica Long-Term
Care (LTC) unit today announced that it has reached agreement with
CERES Strategies, Inc., the affiliated healthcare procurement company
for Beverly Enterprises, Inc. and Golden Gate National Senior Care
LLC, on a contract to provide Beverly and Golden Gate with
institutional pharmacy services for the skilled-nursing and long-term
care facilities operated by subsidiaries of those companies. CERES
Strategies, Inc. a part of Ceres Purchasing Solutions, provides
procurement services for Beverly, Golden Gate and their subsidiaries.
The contract is effective immediately and continues until March
31, 2009 with provisions to extend the length of the contract. Terms
of the contract were not disclosed. As part of the agreement,
AmerisourceBergen will drop its lawsuit against Beverly and Golden
Gate, which asked the court to enforce a previous contract.
"We have had a long and beneficial relationship with Beverly and
are pleased that we will continue to provide pharmacy services to the
patients under the care of Beverly and Golden Gate," said William G.
Shields, PharMerica LTC's President. "As our largest customer group,
Beverly and Golden Gate provide a firm foundation for our national
reach in institutional pharmacy services."
"We are glad that Beverly is continuing its long-term relationship
with PharMerica and that PharMerica will have an opportunity to expand
upon that relationship as a result of the new contract," said Randy
Churchey, President and CEO of GGNSC Holdings LLC, parent company of
Golden Gate National Senior Care LLC. "We believe that PharMerica,
Beverly and Golden Gate can build on this strong relationship to
further improve pharmacy efficiency and provide quality patient care."
About AmerisourceBergen
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 $59
billion in annualized revenue, AmerisourceBergen is headquartered in
Valley Forge, PA, and employs more than 13,000 people.
AmerisourceBergen is ranked #27 on the Fortune 500 list. For more
information, go to www.amerisourcebergen.com.
FORWARD-LOOKING STATEMENTS
This news release may contain certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These statements
are based on management's current expectations and are subject to
uncertainty and changes in circumstances. Actual results may vary
materially from the expectations contained in the forward-looking
statements. Forward-looking statements may include statements
addressing AmerisourceBergen's future financial and operating results
and the benefits, efficiencies and savings to be derived from the
Company's integration plans to consolidate its distribution network.
The following factors, among others, could cause actual results to
differ materially from those described in any forward-looking
statements: competitive pressures; the loss of one or more key
customer or supplier relationships; customer defaults or insolvencies;
changes in customer mix; supplier defaults or insolvencies; changes in
pharmaceutical manufacturers' pricing and distribution policies or
practices; adverse resolution of any contract or other disputes with
customers (including departments and agencies of the U.S. Government)
or suppliers; regulatory changes; changes in U.S. government policies
(including reimbursement changes arising from the Medicare
Modernization Act); declines in the amounts of market share rebates
offered by pharmaceutical manufacturers to the PharMerica long-term
care business, declines in the amounts of rebates that the PharMerica
Long-Term Care business can retain, and/or the inability of the
business to offset the rebate reductions that have already occurred or
any rebate reductions that may occur in the future; market interest
rates; operational or control issues arising from AmerisourceBergen's
outsourcing of information technology activities; the Pharmaceutical
Distribution segment's ability to continue to successfully transition
its business model to fee-for-service; success of integration,
restructuring or systems initiatives; fluctuations in the U.S. dollar
- Canadian dollar exchange rate and other foreign exchange rates;
economic, business, competitive and/or regulatory developments in
Canada, the United Kingdom and elsewhere outside of the United States;
acquisition of businesses that do not perform as we expect or that are
difficult for us to integrate or control; and other economic,
business, competitive, legal, regulatory and/or operational factors
affecting the business of AmerisourceBergen generally.
More detailed information about these and other risk factors is
set forth in AmerisourceBergen's filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for
fiscal 2005.
AmerisourceBergen is under no obligation to (and expressly
disclaims any such obligation to) update or alter any forward looking
statements whether as a result of new information, future events or
otherwise.
CONTACT: AmerisourceBergen Corporation
Michael N. Kilpatric, 610-727-7118
mkilpatric@amerisourcebergen.com
SOURCE: AmerisourceBergen Corporation