Exhibit 99.2

                   NCS HEALTHCARE ENTERS INTO MERGER AGREEMENT
                          WITH GENESIS HEALTH VENTURES

         Beachwood, Ohio -- (July 29, 2002) NCS HealthCare, Inc. (NCSS: OB)
announced that on July 28, 2002, it entered into a definitive merger agreement
with Genesis Health Ventures, Inc. (NASDAQ: GHVI). In the merger, each share of
NCS common stock will be exchanged for 0.1 of a share of Genesis common stock,
and Genesis will repay in full the outstanding debt of NCS, including $206
million of senior debt, and will redeem $102 million of 5.75% convertible
subordinated debentures, including any accrued and unpaid interest. The total
transaction value is approximately $340 million, net of the application of
approximately $20 million in excess cash at NCS.

         The merger has been unanimously approved by the Board of Directors of
NCS, acting on the recommendation of a special committee of independent
directors of NCS. In its evaluation and determination, the independent committee
and NCS' Board considered all expressions of interest with respect to
alternative transactions. NCS stockholders representing approximately 65% of the
voting power in NCS have committed to vote in favor of the merger. Consummation
of the transaction, which is expected to occur in the fourth calendar quarter,
is subject to regulatory approval and other customary conditions. NCS
HealthCare, Inc. is a leading provider of pharmaceutical and related services to
long-term care facilities, including skilled nursing centers, assisted living
facilities and hospitals. NCS serves approximately 203,000 residents of
long-term care facilities in 33 states and manages hospital pharmacies in 14
states.

Except for the historical financial information contained in this press release,
statements in this release are forward-looking statements. Those forward-looking
statements are based on management's expectations and beliefs concerning future
events impacting the Company and are subject to uncertainties and factors
(including, but not limited to, those specified below) which are difficult to
predict and, in many instances, are beyond the control of the Company. As a
result, actual results of the Company may differ materially from those expressed
or implied by any such forward-looking statements. Factors that may cause the
actual results to differ materially from those contemplated by such
forward-looking statements include but are not limited to the consummation of
the merger with Genesis, the continued impact of the Medicare Prospective
Payment System, changes in State Medicaid and third party reimbursement levels,
the credit






worthiness of customers, continuation of various trends in the long-term care
market (including the trend toward consolidation), the Company's negotiations
with its senior lenders related to its credit facility, the Company's
negotiations with an ad hoc committee of holders of its 5 3/4% Convertible
Subordinated Debentures due 2004, the Company's negotiations regarding payment
and other terms with suppliers, competition among providers of long-term care
pharmacy services, changes in regulatory requirements, litigation matters,
implementation of newly issued accounting standards, reform of the healthcare
delivery system and other risks and uncertainties described in the Company's SEC
reports.

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