Date: Thu, 18 Dec 1997 18:07:07 GMT Server: Apache/1.2.4 Last-Modified: Wed, 15 Oct 1997 16:37:45 GMT ETag: "18f5faa-1d30-3444f159" Content-Length: 7472 Accept-Ranges: bytes Connection: close Content-Type: text/html Vitalink Pharmacy Services, Inc. : Company History
Vitalink Pharmacy Services, Inc.
Company History

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1997 - Vitalink and TeamCare merged in February, creating the second largest publicly held institutional pharmacy in the United States. At the time of the merger, the combined Vitalink serviced over 160,000 residents at 56 pharmacies in 29 states. Combined revenues were in excess of $400M. Affiliated (Manor Care and GranCare) revenue represented 30% of the total.


Vitalink's History
TeamCare's History
1996: Vitalink serves 568 customers with a total of 49,900 beds (19,300 Manor Care). Total annualized sales of $150M and 945 total employees. 1996: GranCare serves 959 customers with a total of 107,900 beds (14,000 GranCare). Total annualized sales of $260M and 2,295 total employees.
1992: Vitalink completed its initial public offering. The purpose of the offering was to increase Vitalink's autonomy and create capital and a currency to use for subsequent acquisitions. 1995: GranCare made the strategic decision to develop the pharmacy division as a stand alone business unit with a separate infrastructure and began the further analysis of how best to position the pharmacy to enhance shareholder value.
1989: Following the implementation of OBRA, Manor Care made the strategic decision to develop the pharmacy division as a stand alone business unit with a separate infrastructure , marketing its services to outside customers. 1991 - 1995: The pharmacy operation grew rapidly through same store expansion in GranCare cluster markets and acquisitions in new markets.
1981: Continued growth to new Manor Care cluster markets through Manor Care acquisition of Cenco/Americana. 1991: GranCare acquired AMS, in which the pharmacy was included as part of the larger acquisition and did not have an independent market valuation.
1960: Began in Monticello, IL as part of Americana HealthCare Corporations's thrust to provide consistent high quality pharmacy services to clusters of nursing facilities. 1973: Began in Milwaukee, WI as part of American Medical Services' (AMS) focus on expanding basic nursing care.

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