The U.S. Bankruptcy Court for the Northern District of Texas has approved the sale of Omnicare, LLC to GenieRx Holdings LLC, according to a statement from CVS Health (NYSE: CVS).

Omnicare, a subsidiary of CVS Health that provides pharmacy services to long-term care facilities, will be acquired by GenieRx, a joint partnership between private investment firm Milrose Capital LLC and healthcare investment firm Integro Asset Management LLC.

The court approval follows what the company described as a comprehensive sale process. The transaction is expected to close later this year, subject to regulatory approval and customary closing conditions.

"Today's approval marks an important milestone," said David Azzolina, President of Omnicare. "We are entering this next phase with clarity on what matters most: delivering reliable pharmacy services, maintaining safe and clinically appropriate care, and being transparent and fair in how we operate."

Rowan Farber, CEO of Integro Healthcare Services, stated that "GenieRx's investment in Omnicare is a testament to the strength of their platform and their impressive employee culture and commitment to putting patients and customers first."

Omnicare operates as a pharmacy services provider to skilled nursing facilities and independent and assisted living communities. The company serves what it describes as the long-term care market addressing needs of an aging population.

Legal counsel for the transaction includes Jenner & Block LLP and Haynes Boone, while Houlihan Lokey serves as investment banker and Alvarez & Marsal serves as restructuring advisor to Omnicare.

CVS Health operates approximately 9,000 retail pharmacy locations and more than 1,000 walk-in and primary care medical clinics as of March 31, 2026, according to the statement.