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About Pharmerica Corporation

PharMerica, a BrightSpring Health Services company, is a full-service pharmacy solution. Its affiliates include Pharmacy Alternatives and PropacPayless. It provides long-term care pharmacy services for senior living communities, skilled nursing facilities, public health organizations and post-acute care organizations. PharMerica is controlled by investment firm KKR; in 2019 KKR merged PharMerica with home health firm BrightSpring to form a new health services entit

Operations

PharMerica's primary institutional pharmacy business provides complete pharmacy and medication management services to residents in skilled nursing homes. Its ValueMed unit provides flexible pharmacy solutions for assisted and senior living communities.

The Long-Term Care unit provides complete pharmacy services, IV medication services, medication management and consultant pharmacist services for Skilled Nursing Facilities nationwide.

The specialty & home infusion unit, Amerita, provides complex pharmaceuticals and clinical services to patients in their homes or in residential facilities. Through this business, PharMerica offers high-touch services to patients who have acute or chronic conditions.

The specialty oncology pharmacy business, Onco360, dispenses oncology drugs and provides care management and related services to patients, cancer centers, and hospitals.

PharMerica's hospital pharmacy management business provides medication safety, workforce optimization, regulatory compliance, utilization management, 340B programs, and remote pharmacy services to acute hospitals, behavioral health hospitals, and other facilities.

Geographic Reach

Louisville, Kentucky-based PharMerica has around 90 locations in almost 45 state.

Sales and Marketing

The company serves skilled nursing facilities, senior living communities, and hospitals, homebound patients, and long-term alternative care providers.

Strategy

As a combined entity, Pharmerica and BrightSpring aim to provide a diverse range of services for the senior care, post-acute, and high-need patient markets. The organization aims to use its broad range of complimentary offerings to improve health outcomes and lower costs through integrated care models.

PharMerica's operations benefit from two national trends: the increase in medication usage and the aging of the US population. By consolidating in what has historically been a highly fragmented market, the company has secured its position as one of the largest institutional pharmacy providers in the country. Its size helps it operate more inexpensively, both in terms of securing favorable pharmaceutical prices and delivering products at competitive prices.

The company has worked to diversify its operations, entering markets other than its core long-term care operations such as specialty pharmacy, home infusion, and hospital pharmacy. PharMerica expands geographically by acquiring smaller, regional competitors that operate in target markets.

It also invests in its technology systems to better serve customers and improve operational efficiencies. In 2019 the company inked a deal to utilize MatrixCare's electronic medication administration records (eMAR) platform, allowing for more streamlined medication workflows and documentation.

Over the past few years the company has been beefing up the amount of generic drugs it dispenses as a way to reduce costs and capture more customers. Selling more generics can be a double-edged sword since a shift from brand to generic decreases PharMerica's revenue but improves gross margins.

Mergers and Acquisitions

PharMerica expands through acquisitions of smaller independent pharmacies operating in target markets. For instance, in mid-2019 the company acquired PropacPayless, an institutional pharmacy in Vancouver, Washington.

Company Background

PharMerica was formed through the 2007 spinoff and merger of Kindred Pharmacy Services (from Kindred Healthcare) and PharMerica Long-term Care (from AmerisourceBergen). The company was taken private by KKR in 2017. 

Pharmerica Corporation

805 N Whittington Pkwy
Louisville, KY 40222-7101
Phone: 1 (502) 627-7000

Firm Stats

Employer Type: Publicly Owned
EVP and CFO: Robert E. Dries
Chairman: Geoffrey G. Meyers
CEO: Gregory S. Weishar
Employees (This Location): 10
Employees (All Locations): 52,048

Major Office Locations

Louisville, KY

Other Locations

Daphne, AL
Casa Grande, AZ
Phoenix, AZ
Tucson, AZ
Fresno, CA
Mountain View, CA
Riverside, CA
Sacramento, CA
Fort Lauderdale, FL
Jacksonville, FL
Largo, FL
Tampa, FL
Lihue, HI
Meridian, ID
Bensenville, IL
Glasgow, KY
Columbia, MD
Portland, ME
Grand Rapids, MI
Midland, MI
Goldsboro, NC
Greensboro, NC
Mint Hill, NC
Omaha, NE
Concord, NH
Fairfield, NJ
Cheektowaga, NY
Worthington, OH
Greensburg, PA
Hermitage, PA
King Of Prussia, PA
Charleston, SC
Easley, SC
Franklin, TN
Memphis, TN
Lubbock, TX
Milwaukee, WI
Huntington, WV