PHARMERICA (Nasdaq: DOSE) and INTEGRATED HEALTH SERVICES (NYSE: IHS) have reached an agreement in principle regarding the future of National Institutional Pharmaceutical Services, Inc., (NIPSI) and will move directly toward a definitive agreement. Under terms of the proposed transaction, PharMerica has agreed to acquire NIPSI, an institutional pharmacy owned by IHS. NIPSI operates 35 pharmacies in 15 states serving approximately 38,000 beds. The two companies agreed that under the proposed transaction, the preferred provider agreement would apply to all of IHS's long-term care facilities nationwide, including 139 newly acquired Horizon locations.