CVS Sale Of Omnicare Long-Term Care Pharmacy Continues Portfolio Revamp

InnovationHealthcareCVS Sale Of Omnicare Long-Term Care Pharmacy Continues Portfolio RevampByBruce Japsen,Senior Contributor.Forbes contributors publish independent expert analyses and insights. Bruce Japsen writes about healthcare business and policy.Follow AuthorMay 14, 2026, 09:24am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.In this photo is CVS Health Corp. signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, July 28, 2025. Photographer: Michael Nagle/Bloomberg© 2025 Bloomberg Finance LPA bankruptcy court has approved the sale of CVS Health’s underperforming Omnicare long-term care pharmacy network to GenieRx in a deal valued at $250 million. CVS said the sale to GenieRx followed a “comprehensive sale process” that was approved by the U.S. Bankruptcy Court for the Northern District of Texas. GenieRx, a joint partnership between private investment firm Milrose Capital LLC and health-care investment and management firm Integro Healthcare Services, “will have the opportunity to strengthen” Omnicare’s service, CVS said.For CVS, the deal is the latest to focus on profitable businesses. The company’s Aetna health insurance unit left the business of selling individual coverage under the Affordable Care Act known as Obamacare and the company has scaled back opening senior health clinics in favor or smaller drugstore formats."We are entering this next phase with clarity on what matters most: delivering reliable pharmacy services, maintaining safe and clinically appropriate care, and being transparent and fair in how we operate,” said Omnicare’s president, David Azzolina, in a statement. “Our teams continue to show a deep commitment to our customers, and I am grateful for the work they do every day to support residents in skilled nursing and assisted living settings.”When CVS purchased Omnicare for more than $12 billion more than a decade ago, the drugstor...