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Wednesday, November 27, 2013

CVS Caremark to purchase Apria's infusion business for $2.1 billion, (NYSE: CVS)

CVS Caremark Corp said on Wednesday it was buying Coram LLC, Apria Healthcare Group Inc's specialty infusion services and enteral nutrition business unit, for $2.1 billion. CVS, which operates a drugstore chain and a pharmacy benefits management unit, said Coram would add $1.4 billion to revenues in the first year after the deal closes and 3 to 5 cents per share to CVS's adjusted earnings per share in 2015. CVS expects the deal to close in the first quarter of 2014.

CVS Caremark Corporation (CVS Caremark), together with its subsidiaries, is a pharmacy health care provider in the United States. Shares of CVS remained unchanged at $66.09. In the past year, the shares have traded as low as $45.07 and as high as $67.20. On average, 5626460 shares of CVS exchange hands on a given day and today's volume is recorded at 0.