CVS Finalizes Caremark Merger

Mar 23, 2007 3:00 AM

WOONSOCKET, R.I. -- CVS Corp. here completed its acquisition of pharmacy benefit manager Caremark Rx yesterday for $26.5 billion. “CVS/Caremark will offer end-to-end services, from plan design to prescription fulfillment, as well as the opportunity to improve clinical outcomes, which will result in better control over health care costs for employers and plan providers. The company will improve the delivery of pharmacy services and health care decision-making, enabling consumers to benefit from unparalleled access, greater convenience and more choice. We look forward to capitalizing on the tremendous opportunity ahead of us to improve the delivery of pharmacy services,” said Tom Ryan, CVS/Caremark‘s president and chief executive officer.