Omnicare Inc was formed in 1981 in Delaware. It is a healthcare services company that specializes in the management of complex pharmaceutical care. The Company operates two primary businesses, Long-Term Care Group and Specialty Care Group. Through Long-Term Care Group, the Company provides pharmaceuticals and related pharmacy services to long-term care facilities as well as chronic care facilities and other settings. Through Specialty Care Group, the Company provides specialty pharmacy and commercialization services for the biopharmaceutical industry. The Company's businesses engage in an ongoing program for the development and marketing of new services. The Company serves long-term care institutions and other chronic care settings in approximately 47 states in the U.S. and the District of Columbia. The Company's largest competitor nationally is PharMerica Corporation. It also competes with numerous local and regional institutional pharmacies, pharmacies owned by long-term care facilities and local retail pharmacies. The Company is subject to extensive federal, state and local regulation.