8-KOther EventsExhibits & Filings

Cencora, Inc. 8-K Report, Corporate Update (Jan 23, 2007)

Filed January 23, 2007For Securities:COR

Summary

AmerisourceBergen Corporation (now Cencora, Inc.), in an 8-K filing dated January 23, 2007, announced a significant development concerning the proposed combination of its institutional pharmacy business, PharMerica Long-Term Care, with Kindred Healthcare, Inc.'s institutional pharmacy business, Kindred Pharmacy Services. This strategic move aims to create a new, publicly traded entity named PharMerica Corporation. The company has appointed Gregory S. Weishar, formerly with CVS Corporation's PharmaCare Management Services, as the Chief Executive Officer of this new venture. PharMerica Corporation will be headquartered in Louisville, Kentucky, with a key customer support center in Tampa, Florida. Investors should note that both AmerisourceBergen and Kindred have secured private letter rulings from the IRS concerning the proposed transaction, indicating progress and regulatory clarity on the tax implications of the combination.

Key Highlights

  • 1Announcement of the proposed combination of AmerisourceBergen's institutional pharmacy business (PharMerica Long-Term Care) with Kindred Healthcare's institutional pharmacy business (Kindred Pharmacy Services).
  • 2The new combined entity will be named PharMerica Corporation and will be publicly traded.
  • 3Gregory S. Weishar appointed as the Chief Executive Officer of the new PharMerica Corporation.
  • 4PharMerica Corporation will have its headquarters in Louisville, Kentucky.
  • 5A major customer support center for PharMerica Corporation will be located in Tampa, Florida.
  • 6Both AmerisourceBergen and Kindred Healthcare have received private letter rulings from the IRS regarding the proposed transaction.

Frequently Asked Questions

The 8-K filing announces key developments regarding the proposed combination of AmerisourceBergen's and Kindred Healthcare's institutional pharmacy businesses into a new, publicly traded company named PharMerica Corporation. It also discloses the appointment of the CEO for this new entity.

Gregory S. Weishar, who previously served as Chief Executive Officer and President of PharmaCare Management Services, Inc. (a subsidiary of CVS Corporation), has been appointed as the Chief Executive Officer of the new company.

The private letter rulings from the Internal Revenue Service (IRS) indicate that the tax implications of the proposed transaction have been reviewed and addressed, providing clarity and reducing potential tax-related uncertainties for the companies and shareholders involved in the combination.

PharMerica Corporation will be headquartered in Louisville, Kentucky, and will also operate a major customer support center in Tampa, Florida.