Mergers & Acquisitions

Standard Management signs definitive agreement to acquire California pharmacy

Published in Hospital and Nursing Home Week, October 5th, 2006

Standard Management Corporation, an Indianapolis, Indiana-based provider of pharmaceuticals to the long-term care and infusion therapy industry, announced the signing of a definitive agreement for the purchase of Galloway Pharmacy of San Diego, California.

Terms of the agreement were not disclosed. However, the consideration consists of a combination of cash, seller financing and assumption of debt. The purchase of the $25 million revenue pharmacy is expected to close this fall.

"The San Diego market is a top priority and the company intends to be proactive in addressing strategic opportunities in southern California," said Ronald D. Hunter,...

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Source: Hospital and Nursing Home Week (2006-10-05)

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