About Omnicare’s Court-Supervised Process

Frequently Asked Questions

• What did Omnicare announce?

  • Omnicare has initiated a voluntary court-supervised Chapter 11 process to resolve issues related to the recent litigation in the U.S. District Court for the Southern District of New York.
  • The Company also intends to use this process to address other financial challenges facing the broader long-term care pharmacy industry and to evaluate all options, including the implementation of a sale strategy.
  • As we move through the court-supervised process, we remain fully committed to delivering safe and reliable pharmacy and clinical services to our customers and residents.

• What is Chapter 11?

  • Chapter 11 is a legal tool that allows companies to reorganize their finances and address liabilities while they continue operating. It does not mean that a business is shutting down.

• Why did Omnicare file for Chapter 11? Why now?

  • We were engaged in a civil lawsuit in the U.S. District Court for the Southern District of New York.
  • To resolve issues related to the litigation and address other financial challenges facing the broader long-term care pharmacy industry, Omnicare has initiated a voluntary court-supervised Chapter 11 process.
  • This is a proactive step that enables us to move forward and help ensure the continued delivery of safe and reliable pharmacy and clinical services to our customers and residents.

• Does this mean Omnicare is going out of business?

  • We are continuing to operate as normal and remain fully focused on meeting the pharmacy needs of our customers and long-term care residents.
  • During the court-supervised process, Omnicare customers and patients can continue to access pharmacy and clinical services without disruption.

• How will the court-supervised process affect Omnicare’s day-to-day operations?

  • We are continuing to operate as normal throughout this process.
  • Providing safe and reliable pharmacy and clinical services to our customers and residents remains our top priority as we move ahead.

• Why is Omnicare launching a sale process?

  • Omnicare commenced Chapter 11 proceedings with the intention of evaluating all options, including the implementation of a sale strategy.
  • To advance these efforts, we had a key hearing where the Court approved bidding procedures and a timeline for a court-supervised sale process.
  • This sale process provides a framework that will allow us to attract the highest and best offer for our business.
  • No decisions have been made and nothing is happening immediately.
  • The sale process is expected to take several months and there is no guarantee that it will result in a sale of our business.

• When does the Company expect to complete the Chapter 11 process?

  • While we have not set a specific timeline, we intend to move through this process as quickly and efficiently as possible.
  • We will keep you informed along the way as we have updates to share.

• Where can I find more information?

  • Additional stakeholder resources and information regarding the court-supervised process is available at www.OmnicareRestructuring.com.
  • Court filings and other information related to the proceedings, including instructions on how to file a proof of claim, are available on a separate website administered by the Company’s claims agent, Stretto, at https://cases.stretto.com/Omnicare, by calling Stretto representatives toll-free at (833) 570-5323 or (949) 276-9547 for calls originating outside of the U.S. or Canada, or by sending an email to TeamOmnicare@stretto.com.

• What does this mean for customers?

  • Supporting our customers and residents remains our top priority.
  • Throughout the court-supervised process, we remain fully committed to providing you – and all of your residents – with safe and reliable pharmacy and clinical services.
  • From everyday care to specialized services – we are operating as normal, so you can focus on what matters most: meeting the pharmacy needs of your long-term care residents.

• What does this mean for patients / residents?

  • You should expect no changes to how we serve you as we move through this process.
  • From everyday care to specialized services, we remain fully committed to working closely with your healthcare facility to provide you with high quality care and meet your pharmacy needs.
  • As always, delivering safe and reliable pharmacy services to the patients we serve remains our top priority.

• What does this mean for PBMs who fill prescriptions through Omnicare?

  • As we move through this process, we will continue to support your members and fill their prescriptions.
  • You should expect no changes to how we work together.
  • We remain fully committed to delivering safe and reliable pharmacy and clinical services to our customers and residents.
  • Thank you for your continued support.

• What does this mean for vendors and suppliers that support Omnicare?

  • As part of federal law under the U.S. Bankruptcy Code, we have to pay vendors and suppliers in full under normal terms for goods and services provided after the filing date.
  • We have access to sufficient cash to conduct normal operations during this process, including paying our vendors.
  • We rely on your cooperation – and the cooperation of all of our vendors – as you play a critical role in enabling us to provide safe and reliable pharmacy and clinical services for our customers and residents as we move through this process.