Remedi SeniorCare gets $300 million investment

August 31, 2011|By Gus G. Sentementes, The Baltimore Sun

Remedi SeniorCare, a Baltimore-based company that distributes pharmaceuticals to assisted-living homes and other health care institutions, said Wednesday it received a $300 million investment from a New York-based group.

Remedi will use the money to expand its website services and automated robotic technology for dispensing medications, and to fund future acquisitions in the industry, the company said. The company received an immediate infusion of $60 million from the New York investment firm, Centerbridge Partners LP.

Gus.sentementes@baltsun.com

Twitter.com/gussent

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