Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


August 29, 2015 12:17 AM ET

Healthcare Providers and Services

Company Overview of Omnicare Inc.

Company Overview

Omnicare, Inc. operates as a healthcare services company that specializes in the management of pharmaceutical care in the United States. The company’s Long-Term Care Group segment offers pharmaceuticals, and related pharmacy and ancillary services to long-term care facilities; and chronic care facilities and other settings. This segment also operates institutional pharmacy business serving skilled nursing and assisted living facilities, independent living communities, hospitals, correctional facilities, and other healthcare service providers; and provides monthly patient drug therapy evaluations, and assistance in compliance with state and federal regulations, as well as offers proprietary c...

900 Omnicare Center

201 East Fourth Street

Cincinnati, OH 45202

United States

Founded in 1981

11,726 Employees

Phone:

513-719-2600

Key Executives for Omnicare Inc.

Chief Executive Officer, President, Director and Member of Executive Committee
Age: 52
Chief Financial Officer and Senior Vice President
Age: 45
Senior Vice President of Operations and Sales
Age: 42
Senior Vice President, General Counsel and Secretary
Age: 42
Chief Human Resources Officer and Senior Vice President
Age: 42
Compensation as of Fiscal Year 2015.

Omnicare Inc. Key Developments

Omnicare Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Omnicare Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net sales were $1,733,317,000 against $1,610,584,000 last year. Operating income was $96,930,000 against $130,246,000 last year. Income from continuing operations before income taxes was $69,552,000 against $100,266,000 last year. Income from continuing operations was $33,970,000 or $0.32 per diluted share against $61,246,000 or $0.58 per diluted share last year. Net income was $33,970,000 or $0.32 per diluted share against $21,971,000 or $0.21 per diluted share last year. Adjusted cash earnings per diluted share from continuing operations were $1.02 against $0.91 last year. EBITDA from continuing operations was $126,906,000 against $157,393,000 last year. Adjusted EBITDA from continuing operations was $196,013,000 against $176,224,000 last year. Net cash flows from operating activities were $94,089,000 against $218,634,000 last year. For the six months, net sales were $3,393,159,000 against $3,181,622,000 last year. Operating income was $248,910,000 against $262,998,000 last year. Income from continuing operations before income taxes was $193,883,000 against $203,577,000 last year. Income from continuing operations was $111,359,000 or $1.07 per diluted share against $124,884,000 or $1.17 per diluted share last year. Net income was $111,359,000 or $1.07 per diluted share against $85,745,000 or $0.80 per diluted share last year. Net cash flows from operating activities were $430,345,000 against $390,220,000 last year. Capital expenditures were $14,191,000 against $27,664,000 last year. Adjusted cash earnings per diluted share from continuing operations were $2.04 against $1.82 last year. EBITDA from continuing operations was $305,923,000 against $317,750,000 last year. Adjusted EBITDA from continuing operations was $385,899,000 against $353,909,000 last year.

Omnicare Inc. Agrees to Settle Federal Kickback Lawsuit

Omnicare Inc. has reached an agreement with the federal government over how much the company will pay to settle a lawsuit that alleges the firm sought and received tens of millions of dollars in kickbacks from Abbott Laboratories. A hearing on the proposed settlement and a motion to halt litigation is scheduled for July 20 before Magistrate Judge Pamela Meade Sargent of the U.S. District Court for the Western District of Virginia. The amount Omnicare agreed to pay wasn't specified in a court filing. The company previously reported that Omnicare had agreed to pay $120 million to the federal government to resolve a different case alleging kickbacks and false claims. The amount to be paid in the current case would have to be approved by officials with the U.S. Department of Health and Human Services, the U.S. Department of Justice and a state settlement team facilitated by the National Association of Medicaid Fraud Units. States involved in the case include Indiana and Kentucky. Two months ago, Omnicare officials agreed to sell the company to CVS Health Corp. The deal, valued at $12.7 billion, is to close by the end of this year 2015. The whistleblower suit, filed in December, claims Omnicare got kickbacks from 1998 through 2008 for buying and recommending the drug Depakote to control the behavior of dementia patients. The practice ended up costing taxpayers millions of dollars in payments made by federally funded health insurance programs, according to the suit.

Omnicare Inc. to Report Q2, 2015 Results on Jul 24, 2015

Omnicare Inc. announced that they will report Q2, 2015 results Pre-Market on Jul 24, 2015

Similar Private Companies By Industry

Company Name Region
Leopoldstadt, Inc. United States
Benefits Processing Corp. United States
GP Surgery Center, LLC United States
The Joint San Gabriel Valley Group, Inc. United States
Senior Star at Weber Place United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 21, 2015
--
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Omnicare Inc., please visit www.omnicare.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.