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CVS Health Subsidiary Omnicare Files for Bankruptcy to Tackle Financial Challenges
['Jasmine Pennic']
Health IT | Healthcare IT News | Health Tech - HIT Consultant
– The company also intends to use this process to address other financial challenges facing the long-term care pharmacy industry.
The company is committed to providing safe and reliable pharmacy services to long-term care facilities without disruption.
To support its ongoing operations during this process, Omnicare has secured an agreement for $110M in debtor-in-possession (“DIP”) financing.
“Omnicare has a proud history of providing industry-leading, pharmacy and clinical care solutions to long-term care providers and their residents.
The District Court nevertheless imposed an extreme and, we believe, unconstitutional penalty.
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