Business
Omnicell to Acquire Pharmaceutical Strategy Group’s Leading 340B Software-Enabled Service Business
Expands pharmacy supply chain capabilities for efficient, compliant management of 340B programs Accelerates Omnicell’s strategic transformation to support
About this update from Omnicell, Inc.
[{"type":"text","content":"\nExpands pharmacy supply chain capabilities for efficient, compliant management of 340B programs\n\n\nAccelerates Omnicell’s strategic transformation to support the vision of the fully Autonomous Pharmacy, building on the recent launch of Omnicell One \n\n\nExpected to be immediately accretive to non-GAAP earnings per share\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nOmnicell, Inc. (NASDAQ:OMCL), a leading provider of medication management solutions and adherence tools for health systems and pharmacies, today announced it has entered into a definitive agreement with Pharmaceutical Strategies Group (PSG) to acquire its 340B Link business for total aggregate cash consideration of $225 million, subject to customary adjustments. The acquisition will add a comprehensive and differentiated suite of software-enabled services and solutions used by certain eligible hospitals, health systems, clinics, and entities to manage compliance and capture 340B drug cost savings on outpatient prescriptions filled through the eligible entity’s pharmacy or a contracted pharmacy partner.\n\n\nThe federal 340B Drug Pricing Program has provided financial assistance to hospitals serving vulnerable communities for more than 25 years. The program offers drug discounts to support eligible entities, including certain hospitals and other federally-qualified health centers, that provide care for the nation’s underinsured and uninsured patients. The 340B program continues to be an important source of funding for vital patient care as covered entities face rising healthcare costs, reimbursement cuts, and uncompensated care. To manage the increasing complexities of program compliance, eligible hospitals and other entities rely on software-enabled services to manage the program. The importance of the 340B program continues to grow as covered entities seek solutions to help manage rising healthcare costs and uncompensated care.\n\n\nThe acquisition of the 340B Link business accelerates Omnicell’s journey to the fully Autonomous Pharmacy, building on the company’s recent launch of Omnicell One, which leverages cloud-based data and predictive, prescriptive analytics to provide real-time visibility with actionable insights and workflow optimization recommendations to improve outcomes across the pharmacy supply chain.\n\n\n“This is an exciting transaction for Omnice...