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PharMerica buying Chem Rx for $70.6 million

Mon, 09/27/2010 - 5:45am
The Associated Press

PharMerica Corp. will buy Chem Rx for $70.6 million, the pharmacy management services company said Monday.

The company said the acquisition is subject to the approval of a bankruptcy court. PharMerica plans to fund the buyout with a mix of cash and borrowings.

Chem Rx Corp., a long-term care pharmacy, filed for Chapter 11 bankruptcy protection in the Delaware District of United States Bankruptcy Court on May 11.

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