COVINGTON, Ky., Oct. 5 /PRNewswire/ -- Omnicare, Inc. (NYSE: OCR) and
Marriott Senior Living Services, a division of Marriott International, Inc.
(NYSE: MAR), announced today an agreement where Omnicare has been named
national preferred provider of pharmacy services for the majority of Marriott
Senior Living communities across the United States.
Under the new multi-year agreement, Omnicare will be responsible for
comprehensive pharmaceutical services, medication management and supportive
health and wellness based initiatives for an anticipated 15,000 residents of
Marriott Senior Living communities throughout the United States.
By collaborating with Omnicare, a leader in geriatric pharmacy services,
we will continue to provide enhanced services and quality care in a cost
effective manner for our residents, says Mary Ousley, vice president of
health services, Marriott Senior Living Services. In addition to increased
quality and uniformity of pharmacy services among our communities, we see
great value in Omnicare's demonstrated clinical expertise in promoting
wellness and producing an enhanced quality of life for our residents while, at
the same time, effectively managing drug costs.
We, at Omnicare, are very pleased to have been chosen as the preferred
pharmacy provider for Marriott Senior Living Services and are very excited
about the opportunities for both our organizations under this agreement, said
Joel F. Gemunder, Omnicare's president. Omnicare is dedicated to improving
geriatric pharmaceutical care across the entire continuum of care in a cost-
effective manner. We look forward to sharing our innovative clinical programs
with the Marriott teams to further benefit their skilled nursing and assisted
living residents.
Marriott Senior Living Services has been providing quality care and
housing for seniors since 1984. It currently operates 153 senior living
communities serving over 25,000 residents in 31 states with others under
development and construction. To learn more about Marriott Senior Living
Services, call 1 800-880-3131 or visit their Website at
http://www.marriottseniorliving.com .
Marriott International, Inc. (NYSE: MAR) is a leading worldwide
hospitality company with over 2,000 operating units in the United States and
58 other countries and territories. Marriott Lodging operates and franchises
hotels under the Marriott, Renaissance, Residence Inn, Courtyard, TownePlace
Suites, Fairfield Inn, SpringHill Suites and Ramada International brand names;
develops and operates vacation ownership resorts under the Marriott, Ritz-
Carlton and Horizons brands; operates Marriott Executive Apartments; provides
furnished corporate housing through its ExecuStay by Marriott division; and
operates conference centers. Other Marriott businesses include senior living
communities and services, wholesale food distribution, procurement services,
and The Ritz-Carlton Hotel Company LLC. The company is headquartered in
Washington, D.C., and has approximately 151,000 employees. In fiscal year
1999, Marriott International reported systemwide sales of $17.7 billion. For
more information or reservations, please visit www.marriott.com .
Omnicare, Inc. (NYSE: OCR) based in Covington, Kentucky, is a leading
geriatric pharmaceutical care company. Currently serving more than 629,000
residents in more than 8,400 long-term care facilities in 42 states, Omnicare
is the nation's largest provider of professional pharmacy, related consulting
and data management services for long-term care, assisted living and other
institutional health care providers. Omnicare also provides comprehensive
clinical research services for the pharmaceutical and biotechnology
industries. For more information about Omnicare, visit their Website at
http://www.omnicare.com or prnewswire.com/comp/136781.html .
Statements in this press release concerning expected benefits from the
Marriott Senior Living services agreement, together with other statements that
are not historical, are forward-looking statements that are estimates
reflecting the best judgment of Omnicare based on currently available
information. Such forward-looking statements involve known and unknown risks,
uncertainties, contingencies and other factors that could cause results,
performance or achievements to differ materially from those stated. Such
risks, uncertainties, contingencies and other factors, many of which are
beyond the control of Omnicare, include overall economic, financial and
business conditions, trends for the continued growth of the pharmacy
businesses of Omnicare, the realization of anticipated revenues and
profitability of the agreement, the demand for Omnicare's products and
services, pricing and other competitive factors in the industry, the effect of
new government regulations and/or legislative initiatives including those
relating to reimbursement policies and relating to the interpretation and
application of such policies, and other risks and uncertainties described in
Omnicare's report and filings with the Securities and Exchange Commission.
SOURCE Omnicare, Inc.
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