CVS Health's Omnicare Agrees to 'Stalking Horse' Asset Sale Amid Bankruptcy

Dow Jones04-02 03:25

By Katherine Hamilton

CVS Health found a potential buyer for assets of Omnicare, its nursing and assisted-living provider platform that filed for bankruptcy last year.

GenieRx Holdings, a joint partnership between private investment firm Milrose Capital and healthcare firm Integro Asset Management, signed an asset purchase agreement with Omnicare, CVS said Wednesday.

GenieRx will serve as a "stalking horse bidder" in Omnicare's continuing court-supervised sale process. The buyer will set the floor for the sale of Omnicare's assets.

Based on the nature of the deal, the proposed agreement is subject to higher or better offers from other bidders.

Interested bidders will have until April 30 to submit an offer. If other bids are received, an auction is expected to be held on May 5.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

April 01, 2026 15:25 ET (19:25 GMT)

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