PharMerica increases borrowing capacity as it seeks 2017 growth

PharMerica Corporation (PharMerica), a provider of institutional pharmacy, specialty infusion and hospital pharmacy management services, has amended its existing credit agreement with Bank of America to increase the company’s borrowing capacity by roughly $150 million.

Under the terms of the amended credit agreement, the revolving facility increased by $60 million and the term loan facility increased by approximately $90 million.

The amended credit agreement also increased the accordion feature, which now provides PharMerica with an incremental basket of up to $200 million.

“This expansion of our borrowing capacity will give PharMerica the financial flexibility to drive further business diversification and value-enhancing growth in 2017. We appreciate the strong support of our lenders and their continued confidence in PharMerica,” said Greg Weishar, CEO of PharMerica.