CVS Subsidiary Omnicare Hires Alvarez & Marsal for Consulting Services

Omnicare, a CVS Health subsidiary, has hired consulting firm Alvarez & Marsal to help stabilize the company. Omnicare provides pharmacy services to long-term care and post-acute facilities, as well as assisted living communities. The move comes as the company faces challenges in the industry. The consulting firm will help Omnicare address operational and financial issues, and develop a plan to improve its performance.

Omnicare, a subsidiary of CVS Health, has engaged consulting firm Alvarez & Marsal to address operational and financial issues, according to recent reports. The move comes amidst growing challenges within the industry, particularly for Omnicare, which provides pharmacy services to long-term care and post-acute facilities, as well as assisted living communities.

The decision to hire Alvarez & Marsal follows a significant legal setback for Omnicare and its parent company, CVS Health. A federal judge recently denied their motion to overturn a drug-fraud suit, ordering Omnicare to pay $406.8 million in treble damages and $542 million in statutory penalties. CVS Health is liable for $164.8 million of these penalties CVS Unit Omnicare Taps Alvarez & Marsal for Operational Help^[1].

The consulting firm will work with Omnicare to develop a plan to improve its performance and stabilize its operations. The company has faced increased operating expenses, with costs rising by $859 million, or 8.9% on a year-over-year basis for the six months that ended June 30, 2025 CVS subsidiary Omnicare hires consulting firm to help right the ship - report^[2].

This latest development underscores the ongoing challenges faced by Omnicare and the broader healthcare industry. As the company seeks to navigate these difficulties, investors and stakeholders will be closely monitoring the progress made by Alvarez & Marsal and the strategies implemented to turn around Omnicare's performance.