RTTNews | Dec 2, 2021 09:02AM EST

09:02 Thursday, December 2, 2021 (RTTNews.com) - Omnicell, Inc. (OMCL), a provider of healthcare tools and solutions, said on Thursday that it has signed a definitive agreement with ReCept Holdings, Inc., a provider of specialty pharmacy management services, to acquire its business for a total cash consideration of $100 million.

The acquisition is expected to broaden Omnicell's portfolio of capabilities and services to address the significant need to improve access to and care coordination for complex medications.

The California-headquartered Omnicell intends to use its available cash balance to fund the transaction. Upon closing, the transaction is expected to add to Omnicell's earnings starting in the first quarter of 2023.

Commenting on the acquisition, Randall Lipps, CEO of Omnicell said, "The ReCept acquisition is a strategic investment that expands our porOur entry into this rapidly expanding area of practice is a natural progression on the path to the Autonomous Pharmacy and the goal to enhance care, improve efficiency, and drive profitability. We are excited to add these critical solutions to the Omnicell portfolio for our health system clients and prospects."

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