WOONSOCKET, R.I. -- CVS here plans to boost its specialty-pharmacy ProCare division with the acquisition of Pittsburgh-based Stadtlander, a specialized distributor of HIV/AIDS, transplant, mental-health and fertility drugs, from drug wholesaler Bergen Brunswig, Orange, Calif.
of CVS, projects annual ProCare revenues to grow to $2 billion to $3 billion in the next four years at 125 locations. CVS' total sales hit $18 billion last year. Stadtlander's 1999 sales were $570 million, according to Bergen Brunswig.
With the proposed acquisition of Stadtlander, announced last month, ProCare would pay $124 million in cash for assets that include several mail-order distribution centers and a database of 50,000 customers. The deal also would include a supply agreement under which Bergen Brunswig would provide Procare with pharmaceuticals over the next five years.
Walgreens Adds Home Care Assets
DEERFIELD, Ill. -- Walgreens Advance Care, a wholly owned subsidiary of Walgreen here, has acquired selected assets of Home Care Medical Services, Sunrise, Fla. Terms of the sale were not disclosed.
Home Care Medical provides respiratory services and equipment, home medical supplies and rehabilitation products and services to patients in southeast Florida. "This acquisition is part of our ongoing strategy of acquiring quality home care businesses with local presence and relationships, particularly in Florida," said Ron Allen, vice president of Home Care Services for Walgreens Health Initiatives.
Walgreens Health Initiatives, under the Advance Care subsidiary, operates home care facilities in Illinois, Indiana, Wisconsin, New Mexico, Arizona and Florida. The company provides cost-effective home care services to patients in collaboration with medical professionals, caregivers and managed care organizations.