VALLEY FORGE, Pa. AmerisourceBergen on Monday acquired Bellco Health, a privately held distributor of branded and generic pharmaceuticals, for a revised purchase price of approximately $190 million in cash. AmerisourceBergen expects this acquisition will be neutral to diluted earnings per share for fiscal year 2008 and approximately $0.05 accretive to diluted earnings per share in fiscal year 2009.
“Bellco is a great strategic fit and is a perfect example of our acquisition strategy, which focuses on adding complementary companies in the pharmaceutical supply channel,” stated AmerisourceBergen president and chief executive officer David Yost.
Headquartered in North Amityville, New York, Bellco Health has annualized revenues of approximately $2 billion and is a major pharmaceutical distributor in the Metro New York City Area, where it primarily services independent retail community pharmacies. Nationally, the company markets and sells generic pharmaceuticals to individual retail pharmacies, and provides pharmaceutical products and services to dialysis clinics.
When AmerisourceBergen first announced the proposed acquisition in March 2007, the purchase price was estimated to be $235 million. The price was decreased due to a now resolved regulatory issue and other business matters.