AmerisourceBergen, Kindred to Form Firm
AmerisourceBergen Corp. and Kindred Healthcare Inc. said they had agreed to form a new public company, combining their pharmacy units that serve mostly nursing homes.
The deal sent AmerisourceBergen’s shares up 46 cents to $43.18, while Kindred’s shares rose $1.94 to $30.94.
The new company would be the second-biggest player in the institutional pharmacy market, after leader Omnicare Inc., and it seeks to use its bulk to benefit from the new prescription drug benefits under Medicare.
Chesterbrook, Pa.-based AmerisourceBergen and Kindred, based in Louisville, Ky., said they expected to sign a definitive agreement on or about Sept. 30 and expected to complete the transaction in the first quarter of 2007.
The deal requires federal regulatory review.
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