Chesterbrook-based AmerisourceBergen is acquiring H.D. Smith, the nation’s largest independent pharmaceutical distributor, for $815 million, writes John George for the Philadelphia Business Journal.

Among H.D. Smith’s many customers are retail and specialty pharmacies, long-term care facilities, hospital systems, and independent physicians and clinics.

“The acquisition strengthens our core business, and expands and enhances our strategic scale in U.S. pharmaceutical distribution,” said Steven Collis, AmerisourceBergen’s CEO. He added that “this acquisition also expands our support for independent community pharmacies,” referring to the wholesaler’s 10 distribution facilities nationwide, plus its diversified customer base.

[uam_ad id=”58459″]

Advertisement

According to officials at AmerisourceBergen, the acquisition will most likely be beneficial to the company’s adjusted diluted earnings per share for the 2018 fiscal year. It’s also expected to add around $0.15 to AmerisourceBergen’s adjusted earnings per share in fiscal year 2020.

The all-cash purchase will be funded through new long-term debt issued by the Chester County company.

Read more about the acquisition of H.D. Smith in the Philadelphia Business Journal here, and check out previous VISTA Today coverage of AmerisourceBergen here.

[uam_ad id=”66605″]