Omnicare, Inc. is an American company working in the health-care industry. It was established in April 1981 as a spinoff of healthcare businesses from Chemed and W. R. Grace and Company. It is currently a pharmacy specializing in nursing homes.[1] In 2015, Omnicare was acquired by CVS Health.[2]
Controversy
In 2012, the Federal Trade Commission (FTC) sued Omnicare to block its hostile takeover of its rival PharMerica under federal anti-trust law. The FTC alleged that the acquisition would boost drug costs and inflate Medicare expenditures by consolidating the industry and reducing price competition.[3] PharMerica owned 97 long-term-care pharmacies, while Omnicare owned approximately 200. The merger would have given Omnicare a 57% market share versus two percent for its nearest, non-PharMerica rival.[4]