LOUISVILLE, Ky.--(BUSINESS WIRE)--PharMerica Corporation (NYSE:PMC), a diversified national provider of institutional and specialty pharmacy services, announced today that it has completed the acquisition of CareMed Specialty Pharmacy. Terms of the transaction were not disclosed.

CareMed, based in New Hyde Park, NY, and licensed in all 50 states, provides comprehensive specialty pharmacy services nationally and is known industry-wide for its commitment to excellence and customer service.

Greg Weishar, PharMerica Corporation’s Chief Executive Officer, stated, “The CareMed acquisition is in line with the Company’s diversified business strategy and further bolsters our position in the rapidly growing specialty pharmacy market. We look forward to working with the talented CareMed management team to deliver value to all PharMerica stakeholders.”

“We are pleased to have reached this agreement and believe we have found an ideal partner in PharMerica,” said Dr. Moby Kazmi, Chief Executive Officer of CareMed. “Like CareMed, PharMerica adheres to the highest standards of care and service. We look forward to realizing the significant benefits this transaction will bring to our customers and employees.”

About PharMerica

PharMerica Corporation is a leading provider of pharmacy services. PharMerica serves the long-term care, hospital pharmacy management services, specialty home infusion and oncology pharmacy markets. PharMerica operates 98 institutional pharmacies, 19 specialty home infusion pharmacies and 4 specialty oncology pharmacies in 45 states. PharMerica’s customers are institutional healthcare providers, such as skilled nursing facilities, assisted living facilities, hospitals, individuals receiving in-home care and patients with cancer.