Judge Approves CVS Unit Omnicare Bankruptcy Plan

A federal bankruptcy judge approved the restructuring plan for Omnicare, a long-term care pharmacy subsidiary of CVS Health. The plan is designed to fully repay all creditors, including the Department of Justice, which held claims against the company. The approval allows Omnicare to emerge from bankruptcy proceedings and continue operations serving nursing homes and other institutional settings. The resolution affects Medicaid programs indirectly, as Omnicare serves facilities where many residents rely on Medicaid coverage for pharmacy services.

LTSS · Pharmacy