Harris Williams & Co. Advises CCRx Holdings, Inc. in its Sale to Strategic Buyer Omnicare, Inc.
Harris Williams & Co. is pleased to announce the sale of CCRx Holdings, Inc. (CCRx), a portfolio company of Cressey & Company (Cressey), in its sale to Omnicare, Inc. (NYSE:OCR). Harris Williams & Co. acted as the exclusive advisor to CCRx. The transaction was led by Turner Bredrup, James Clark and Geoff Smith from the firm's Healthcare & Life Sciences (HCLS) Group.
CCRx, headquartered in Harrisburg, PA, is an institutional pharmacy that provides medications to residents in long-term care facilities, primarily skilled nursing and assisted living facilities. CCRx also provides pharmacy and consulting services to independent living, correctional, mental health and drug and alcohol rehabilitation facilities.
Cressey, with offices in Chicago and Nashville, is a private investment firm focused on the healthcare industry. The principals of the firm have been active healthcare investors for nearly three decades and have invested in a wide range of healthcare businesses. Cressey seeks to invest in high-potential segments of the U.S. healthcare market and apply its skills and expertise, along with its capital, to enhance the performance and accelerate the growth of its portfolio companies.
Omnicare, a Fortune 500 company based in Covington, KY, is a leading provider of pharmaceutical care for the elderly. Omnicare serves residents in long-term care facilities, chronic care and other settings comprising approximately 1.4 million beds in 47 states, the District of Columbia and Canada. Omnicare is the largest U.S. provider of professional pharmacy, related consulting, and data management services for skilled nursing, assisted living and other institutional healthcare providers as well as for hospice patients in homecare and other settings. Omnicare's pharmacy services also include distribution and patient assistance services for specialty pharmaceuticals. Omnicare offers clinical research services for the pharmaceutical and biotechnology industries in 32 countries worldwide.