PharMerica acquires minority stake in specialty pharmacy Onco360

NEW YORK — Institutional pharmacy PharMerica Corp. has acquired a minority stake in specialty pharmacy company Onco360, the two companies said Monday.

Onco360, which focuses on oncology services, and PharMerica called the stake "significant," and PharMerica will have the option to acquire the rest of the company over the next several years, but financial terms of the deal were not disclosed. Onco360 currently has sales of more than $100 million per year.

"We are pleased to have reached this agreement and to have PharMerica's vote of confidence in our unique oncology care platform," Onco360 CEO Burt Zweigenhaft said. "This partnership will allow us to further expand our franchise on a national scale and provide more patients with the best oncology care possible. Working with PharMerica, we will build upon and further improve the outstanding service levels and capacity that our clients have come to expect from us."