A PYMNTS Company

US: CVS to spend $2.1B for biggest buyout in five years

By  |  November 27, 2013

CVS Caremark Corp., the nation’s largest prescription drug provider, announced plans for its largest acquisition in five years, the buyout of Coram LLC for about $2.1 billion.

In a statement, CVS announced Wednesday plans to acquire th company currently owned by Apria Healthcare Group. The move will allow CVS to expand is operations in the antibiotic, nutrition and pain therapy business through intravenous therapy.

The deal is CVS’s largest since it acquire Longs Drug Stores for $2.8 billion in 2008 following a bidding war with CVS rival Walgreens.

According to reports, the deal also marks the third-largest drug-retail acquisition deal in the past five years.

Full Content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.