Omnicell, Inc. (NasdaqGS:OMCL) entered into a definitive agreement to acquire ReCept Holdings Inc. from Generation Partners, L.P. for $100 million on December 1, 2021. The consideration is subject to customary adjustments. Omnicell will use cash available on its balance sheet to fund the transaction.

For 12 months ended September 30, 2021, ReCept generated total revenues of $24 million. The transaction is subject to Hart-Scott-Rodino clearance, regulatory approvals and the satisfaction of other customary closing conditions and is expected to close by the end of 2021. Upon closing, the transaction is expected to be accretive to Omnicell's non-GAAP EBITDA beginning in the first quarter of 2023.

Sidley Austin LLP served as legal counsel to Omnicell. Sean P. Griffiths of Gibson, Dunn & Crutcher LLP served as legal counsel to ReCept.