Omnicare wins court approval to sell pharmacy unit to GenieRx

A Texas bankruptcy court cleared Omnicare's pharmacy business to move to GenieRx Holdings LLC, a deal valued at about $250 million that could shape how medication reaches nursing homes and assisted-living communities across the country.

Omnicare, the CVS Health unit that supplies pharmacy services to long-term care facilities, said it would keep operating normally during the court-supervised process so skilled nursing and assisted-living customers would not face an interruption in service. The company said it would continue supporting clients with transparent pricing, clinically aligned programs and data-driven insights as the transaction advances toward closing later this year.

GenieRx Holdings is a partnership between Milrose Capital LLC and Integro Asset Management LLC, which does business as Integro Healthcare Services. The sale still needs regulatory approvals and other customary closing conditions, but the bankruptcy court approval marked a major step in a transfer that is as much about continuity of care as it is about ownership.

That continuity matters because long-term care pharmacies sit inside the daily logistics of eldercare. Industry reporting says these pharmacies serve skilled nursing facilities, assisted living communities and other senior care settings, where medications, dose packaging, consulting and delivery schedules are tightly linked to resident care. One market estimate puts the number of institutional long-term care pharmacy providers at roughly 1,300, underscoring how competitive and operationally sensitive the sector has become.

The bankruptcy case followed a costly legal blow. Omnicare filed Chapter 11 in the Northern District of Texas in September 2025 after a federal judge in Manhattan ordered the company to pay $948.8 million in penalties and damages in a False Claims Act case over invalid prescriptions. That case involved 3,342,032 false claims submitted between 2010 and 2018. CVS has said the bankruptcy process was also meant to address broader financial pressure in the long-term care pharmacy industry, not just the litigation itself.

CVS began seeking a sale of its long-term care pharmacy business in 2022, giving the transaction a longer strategic backstory than a single court proceeding. For nursing homes and assisted-living operators, the key question now is whether the new ownership can preserve supply reliability, hold down reimbursement strain and maintain the service model that facilities rely on for medicine delivery and clinical support.