NeighborCare, Inc. - Introduction

Introduction

601 East Pratt Street, 3rd Floor
Baltimore, Maryland 21202-3123
U.S.A.
Telephone: (410) 528-7300
Fax: (410) 528-7473
Web site: http://www.neighborcare.com

Public Company
Incorporated: 1985 as Genesis Health Ventures, Inc.
Employees: 5,900
Sales: $1.44 billion (2004)
Stock Exchanges: NASDAQ
Ticker Symbol: NCRX
NAIC: 422210 Drugs and Druggists' Sundries Wholesalers; 446110 Pharmacies and Drug Stores; 423450 Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers

NeighborCare, Inc. is one of the largest providers of institutional pharmacy services in the United States. The company serves long-term-care facilities in 32 states and the District of Columbia that collectively have approximately 260,000 beds. These facilities include long-term-care and skilled nursing facilities, specialty hospitals, assisted and independent living communities, and other group settings. NeighborCare's pharmacy operations include 62 institutional pharmacies, 32 community-based professional retail pharmacies, and 20 onsite pharmacies that are located in customers' facilities. In addition, the company runs 16 home infusion, respiratory, and home medical equipment distribution centers.

NeighborCare was known as Genesis Health Ventures, Inc. from its founding in 1985 through November 2003, during which time the company was also a provider of integrated healthcare services through nursing homes and assisted-living facilities. The latter business was spun off into a public company called Genesis HealthCare Corporation in December 2003, at which point the firm adopted the name NeighborCare, Inc. and began concentrating solely on institutional pharmacy services.