Omnicare Completes Acquisition of excelleRx

8/12/2005

PHILADELPHIA , PA / COVINGTON, KY - excelleRx, Inc., a provider of comprehensive pharmaceutical care services for hospice patients, was acquired by Ominicare, Inc. (NYSE: OCR) for $268 million in cash. Primus invested in excelleRx in 2003 as part of a growth equity financing. excelleRx has grown rapidly over the last two years and currently provides services to approximately 400 hospice agencies covering 48,000 patients in 46 states. OCR, one of the nation’s leading providers of pharmaceutical care for the elderly, targeted excelleRx as an acquisition to enhance its position in the growing hospice market, building on excelleRx’s pharmaceutical care expertise and call center infrastructure. Primus received cash as a result of the sale.

Founded in 1983, Primus is a private equity firm established to invest in growth capital opportunities, recapitalizations and management-led buyouts. Primus typically invests between $10 million and $25 million per transaction targeting companies with proven business models and superior growth prospects. Although experienced in a number of industries, Primus places an increased emphasis on the business services, healthcare, for-profit education and communication sectors. Primus is comfortable in making control and minority investments, as well as using financial leverage in a transaction, where appropriate.