[August 01, 2014]

PharMerica Acquires Rx Advantage

PharMerica Corporation (NYSE:PMC), a national provider of institutional, specialty home infusion, hospital and oncology pharmacy services, announced today that it has completed the acquisition of Rx Advantage, Inc. Rx Advantage provides comprehensive pharmacy services to long-term care facilities and other customers, primarily in Alabama and Florida. Terms of the transaction were not disclosed.

Greg Weishar, PharMerica Corporation's Chief Executive Officer, stated "The acquisition of Rx Advantage reflects our focused and disciplined strategy to pursue accretive acquisitions that capitalize on PharMerica's institutional pharmacy capabilities and meet our objectives for growth and value creation. We will continue to leverage our strong financial position and seek attractive opportunities to create additional value for PharMerica shareholders."

Mr. Weishar continued, "The acquisition of Rx Advantage further expands our portfolio of pharmacy solutions and increases our national footprint in an important region where we have complementary operations. Rx Advantage has built a strong business by providing excellent service to meet the diverse clinical needs of its clients and their residents. We look forward to working with Rx Advantage's talented management team and outstanding client base to continue its record of providing comprehensive pharmacy solutions and superior patient care and safety."

About PharMerica

PharMerica Corporation is a leading institutional pharmacy services company that services healthcare facilities in the United States, provides pharmacy management services to hospitals, specialty infusion services to patients outside a hospital setting, and offers the only national oncology pharmay and care management platform in the United States. PharMerica operates 93 institutional pharmacies, 14 specialty infusion centers and 5 specialty oncology pharmacies in 45 states. PharMerica's customers are institutional healthcare providers, such as skilled nursing facilities, nursing centers, assisted living facilities, hospitals, individuals receiving in-home care and other long-term alternative care providers.

Forward-looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's current estimates, expectations and projections about its future results, performance, prospects and opportunities. Forward-looking statements include, among other matters, the information concerning the Company's "guidance" and possible future results of operations, the strength of the Company's financial and operational performance during 2013, the impact of the brand to generic drug conversions on the Company, the Company's ability to identify and consummate future acquisitions, the Company's ability to deliver outstanding value to its shareholders, the Company's continued pursuit of its strategic initiatives including those focused on client retention and operating margins, the Company's ability to successfully work with Innovatix to execute the Company's strategic initiatives and market expansion into home infusion and specialty, and the Company's ability to achieve organic growth. Forward-looking statements include statements that are not historical facts and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "plan," "may," "should," "will," "would," "project" and similar expressions. These forward-looking statements are based upon information currently available to us and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Important factors that could cause the Company's actual results to differ materially from the results referred to in the forward-looking statements we make in this press release include the adequacy of our litigation-related reserves and those included in the Risk Factors section set forth in the Company's Annual Report on Form 10-K filed with the SEC (News - Alert) and in other reports, including Quarterly Reports on Form 10-Q filed with the SEC by the Company.

You are cautioned not to place undue reliance on any forward-looking statements, all of which speak only as of the date of this press release. Except as required by law, we undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events. All subsequent written and oral forward-looking statements attributable to us or any person acting on the Company's behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this press release and in the Risk Factors section set forth in the Company's Annual Report on Form 10-K filed with the SEC and in other reports filed with the SEC by the Company.

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