On March 5, 2019, BrightSpring Health Services – formerly known as ResCare Inc. – merged with PharMerica to form an organization that will provide home- and community-based health and pharmacy services for high-need and medically complex populations. The merge came following the purchase of BrightSpring by investment firm Kohlberg Kravis Roberts (KKR), with an affiliate of Walgreens Boots Alliance, Inc., for $1.32 billion. The combined company is projected to have combined annual revenue of about $4.5 billion, and to serve over 300,000 people daily in 47 states, Puerto Rico, and Canada. The deal had been announced on December 10, 2018.
BrightSpring Health Services is the new name for ResCare Inc., which rebranded in August 2018. The Louisville, Kentucky-based company parents several existing brands and services that provide home- and community-based health services to more than two million people annually in 40 states. The BrightSpring Health Services family of brands includes: All Ways Caring HomeCare; ResCare Community Living; ResCare Workforce Services; SpringHealth Behavioral Health and Integrated Care; Rehab Without Walls; Pharmacy Alternatives; Rest Assured; Adoration Home Health and Hospice; Gateway Pediatric Therapy, and Angel Companions Senior In-Home Care Solutions.
PharMerica is a post-acute and long-term care full-service pharmacy specializing the pharmaceutical needs in senior living settings, including assisted living and skilled nursing facilities. The Louisville, Kentucky company serves approximately 250,000 individuals through 96 institutional pharmacies in 41 states. PharMerica was acquired by KKR in late 2017.
The combined company formed by the merger will be led by Jon Rousseau, who is currently president and chief executive officer (CEO) of BrightSpring. Greg Weishar, current President and CEO of PharMerica, will will serve as a Strategic Advisor, continuing on the Board of Directors.
OPEN MINDS last reported on this topic in “Health & Human Service Rebranding In 2018—New Positioning & Mergers Drive Change,” which published on December 14, 2018. The editorial is available at https://www.openminds.com/market-intelligence/editorials/health-human-service-rebranding-in-2018-the-trend-continues/.
For more information, contact:
Barnard Baker, Corporate Communications Manager, BrightSpring Health Services, 805 North Whittington Parkway, Louisville, Kentucky 40222; 502-630-7254; Email: Barnard.Baker@BrightSpringHealth.com; Website: https://www.brightspringhealth.com/; or Kristi Huller, Global Head of Marketing and Communications, KKR Americas, 9 West 57th Street, Suite 4200, New York, New York 10019; 212-750-8300; Email: Media@KKR.com; Website: http://www.kkr.com/