Omnicare LLC, a subsidiary of CVS Health (NYSE: CVS), has entered into an asset purchase agreement with GenieRx Holdings LLC as part of its ongoing court-supervised sale process, the company announced April 1.

GenieRx, a joint partnership between private investment firm Milrose Capital LLC and Integro Asset Management LLC, will serve as the stalking horse bidder in the sale. This arrangement sets a floor price for Omnicare's assets while allowing other qualified bidders to submit higher offers.

The deadline for competing bids is April 30, 2026. If qualified bids are received, an auction is expected May 5, 2026, followed by a court hearing to approve the sale to the winning bidder.

"We are making meaningful progress in our court-supervised process and are pleased to enter into this purchase agreement with GenieRx," said David Azzolina, President of Omnicare.

Omnicare provides pharmacy services to skilled nursing facilities and assisted living communities. The company stated it continues operating during the sale process, focusing on clinical programs, transparent pricing, and analytics supporting various care models.

Jenner & Block LLP and Haynes Boone serve as legal counsel, with Houlihan Lokey as investment banker and Alvarez & Marsal as restructuring advisor to Omnicare.

Additional information about the court-supervised process is available at www.OmnicareRestructuring.com. Court filings and bidding procedures can be accessed through the claims agent Stretto at cases.stretto.com/Omnicare.

CVS Health operates approximately 9,000 retail pharmacy locations and more than 1,000 medical clinics as of December 31, 2025, serving an estimated 37 million people through various health insurance products.