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Wednesday, November 27, 2013

CVS to purchase specialty drug infusion business for $2.1 bln, (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 the No. 2 U.S. drugstore chain and the second-largest pharmacy benefits management (PBM) business, said Coram's infusion operations will help it provide cost-effective services to its clients.Infusion therapy involves administering medication through a needle or catheter when a patient's condition is too severe to be treated effectively by oral medications. Coram provides these services primarily at patients' homes.While infused therapies can be administered in hospitals, physician's offices and infusion centers, CVS said its analysis found that providing the services at patients' homes or in ambulatory settings are by far the most cost-effective.

CVS Caremark Corporation (CVS Caremark), together with its subsidiaries, is a pharmacy health care provider in the United States. Shares of CVS traded higher by 1.23% or $0.815/share to $66.90. 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 3057092.