CVS Caremark to Acquire Apria Healthcare Unit for $2.1 Billion

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To further its objective of "investing in core businesses that help drive growth," health-care giant CVS Caremark announced today it has signed a definitive agreement to acquire infusion-care provider Coram Specialty Infusion Services from privately held Apria Healthcare for an estimated $2.1 billion.

CVS did not disclose how the deal would be funded. CVS ended its fiscal 2013 third quarter on Sept. 30 with $1.6 billion in cash and equivalents on its balance sheet.

According to CVS, Corum Infusion should generate approximately $1.4 billion in its first year after the deal closes and will be accretive to 2015 earnings by $0.03 to $0.05 per share. The deal for Corum Infusion follows CVS Caremark's acquisition of Brazil-based drugstore chain Drogaria Onofre earlier this year, its first international foray.

Commenting on the deal, CVS Caremark Pharmacy Services president Jon Roberts said, "Infusion will be a valuable component of our broad specialty pharmacy offering going forward."

Corum Infusion said it serves more than 20,000 patients a month from more than 85 locations and provides services including tube feeding , cardiac-related therapies, pain, and hemophilia treatments, among others. Infusion treatments can take place in multiple settings, including the less-expensive home or infusion-center alternatives, according to CVS.

The transaction is subject to customary closing conditions and should be finalized the first quarter of 2014.

The article CVS Caremark to Acquire Apria Healthcare Unit for $2.1 Billion originally appeared on

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