Advertisement

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.

Advertisement
Advertisement