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Vitalink Pharmacy Services Inc

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BUSINESS
September 5, 1996 | Times Staff and Wire Reports
Pharmacy Deals Announced: Vitalink Pharmacy Services Inc. said it will acquire TeamCare, GranCare Inc.'s institutional pharmacy business, in a $370-million deal that would create a giant provider of drugs to the nursing-home industry. Naperville, Ill.-based Vitalink is an 82%-owned unit of Manor Care Inc., which owns 180 nursing homes in the U.S. The transaction has been approved by the companies' boards but is subject to a vote of GranCare stockholders.
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BUSINESS
September 5, 1996 | Times Staff and Wire Reports
Pharmacy Deals Announced: Vitalink Pharmacy Services Inc. said it will acquire TeamCare, GranCare Inc.'s institutional pharmacy business, in a $370-million deal that would create a giant provider of drugs to the nursing-home industry. Naperville, Ill.-based Vitalink is an 82%-owned unit of Manor Care Inc., which owns 180 nursing homes in the U.S. The transaction has been approved by the companies' boards but is subject to a vote of GranCare stockholders.
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BUSINESS
April 28, 1998
* Genesis Health Ventures Inc. said it will buy Vitalink Pharmacy Services Inc. for $690 million in cash, preferred stock and debt, giving it a larger, more economical source of drugs for its nursing-home business. * Sovereign Bancorp Inc. said it will pay $185 million for 95 bank branches formerly owned by CoreStates Financial Corp., clearing the way for First Union Corp. to complete its $16.6-billion acquisition of CoreStates.
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