Holland & Knight Advises PharMerica in $1.4 Billion Privatization Deal

BOSTON (Dec. 11, 2017) – Holland & Knight advised PharMerica Corporation, a leading provider of pharmacy services, on the healthcare regulatory and licensing aspects of its recently announced $1.4 billion transaction. The company was purchased by a newly formed entity controlled by KKR, a global investment firm. An affiliate of Walgreens Boots Alliance, Inc. (Nasdaq: WBA) acted as a minority investor.

As a result of the acquisition, which closed on December 7, PharMerica shareholders received an amount in cash equal to $29.25 per share of PharMerica common stock, without interest. Shares of PharMerica’s common stock ceased trading on the NYSE on December 8.

PharMerica is a leading provider of pharmacy services that serves the long-term care, hospital pharmacy management services, specialty home infusion and oncology pharmacy markets. PharMerica operates 96 institutional pharmacies, 20 specialty home infusion pharmacies and five specialty oncology pharmacies in 45 states.

Holland & Knight Partner Jeffrey Mittleman led the firm’s representation of PharMerica along with Partner Courtney Groh and with assistance from Partner Jenna Bigornia and Associates Andrea Eichman, Ilenna Stein, David Weissman, Andrew Namkung, Laury Lucien and Cameryn Mercurio.

UBS Investment Bank and BofA Merrill Lynch served as financial advisors to PharMerica.