VALLEY FORGE, Pa.--(BUSINESS WIRE)--Jan. 17, 2003--
AmerisourceBergen Corporation (NYSE:ABC), the largest pharmaceutical
services company in the U.S. dedicated solely to the pharmaceutical
supply channel, today completed the acquisition of US Bioservices
Corporation, a privately held company (approximately 58 percent of
which is owned by Whitney and Company), for a base purchase price of
approximately $160 million, including assumed debt.
The transaction also provides for contingent payments of up to
approximately $28 million based on US Bioservices achieving defined
earnings targets through the end of the first quarter of calendar year
2004.
AmerisourceBergen expects the acquisition to be slightly accretive
to the Company's fiscal 2003 earnings per share.
AmerisourceBergen issued approximately 2.4 million shares of its
common stock and paid approximately $12 million in cash to the
stockholders of US Bioservices upon the closing of the transaction
today.
The shares of AmerisourceBergen common stock issued upon the
closing of the transaction have been registered under the Securities
Act of 1933 for sale by the recipients of the shares and, therefore,
are eligible for sale immediately without restriction.
US Bioservices is a national pharmaceutical services provider
focused on the management of high-cost, complex therapies and
reimbursement support. US Bioservices had revenues of about $125
million in the 2002 calendar year.
About AmerisourceBergen
AmerisourceBergen (NYSE:ABC) is the largest pharmaceutical
services company in the United States dedicated solely to the
pharmaceutical supply chain. It is the leading distributor of
pharmaceutical products and services to the hospital systems/acute
care market, alternate care and mail order facilities, independent
community pharmacies, and regional chain pharmacies.
The Company is also a leader in the institutional pharmacy
marketplace. With more than $40 billion in annualized operating
revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and
employs more than 13,000 people serving over 25,000 customers. For
more information go to www.amerisourcebergen.com.
Forward-Looking Statements
This news release may contain certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These statements
are based on management's current expectations and are subject to
uncertainty and changes in circumstances. Actual results may vary
materially from the expectations contained in the forward-looking
statements. Forward-looking statements may include statements
addressing future financial and operating results of AmerisourceBergen
and the benefits and aspects of the 2001 merger between AmeriSource
Health Corporation and Bergen Brunswig Corporation.
The following factors, among others, could cause actual results to
differ materially from those described in the forward-looking
statements: the risk that the businesses of AmeriSource and Bergen
Brunswig will not be integrated successfully; failure to obtain and
retain expected synergies; and other economic, business, competitive
and/or regulatory factors affecting the business of AmerisourceBergen
generally.
More detailed information about these factors is set forth in
AmerisourceBergen's filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for fiscal 2002.
AmerisourceBergen is under no obligation to (and expressly
disclaims any such obligation to) update or alter any forward-looking
statements whether as a result of new information, future events or
otherwise.
CONTACT: |
AmerisourceBergen Corporation, Valley Forge |
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Michael N. Kilpatric, 610/727-7118 |
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mkilpatric@amerisource.com |
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