Hospital pharmacy supplier Comprehensive Pharmacy Services has acquired PharmaSource, the pharmacy management division of Omnicare, the company announced on Monday.
Financial terms of the acquisition were not disclosed.
The companies sad the acquisition will allow Memphis-based CPS to expand services, including pediatric hospital support.
Since 1993, PharmaSource has provided pharmacy management services for acute care, rehabilitation, long-term acute care, behavioral, pediatric, surgical, heart and specialty hospitals. The organization's pharmacy management solutions aim to enhance clinical services and control costs.
Don Nickleson, executive chairman of the board of directors for CPS, said in a statement that the move "bolsters several specialized areas of expertise that will allow us to grow our pharmacy services footprint more aggressively, including into the children's hospital space."
The majority of PharmaSource employees will become part of the CPS Specialty Hospital Division.
CPS provides pharmacy services to more than 500 hospitals and healthcare facilities, and employs more than 2,000 pharmacy professionals.