Omnicare pays down $29.1 million of bank debt in second quarter

By Sara Rosenberg

New York, July 26 - Omnicare Inc. repaid $29.1 million in bank debt during the second quarter of 2004, according to a company news release.

Cash balances were about $175 million during the quarter and total-debt-to-total-capitalization was 39.4%, down 840 basis points from the comparable prior-year quarter and 140 basis points down from the first quarter of 2004.

Omnicare is a Covington, Ky., provider of pharmaceutical care for the elderly.

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