WOONSOCKET, R.I — CVS Caremark on Friday said it has entered into an agreement to acquire the Medicare Part D business of Universal American for approximately $1.25 billion. Universal American is a leading Medicare Prescription Drug Plan (PDP) sponsor based in Rye Brook, New York. The acquisition will more than double the size of CVS Caremark's Medicare Part D program. Universal American's Part D business currently serves approximately 1.9 million Medicare PDP members, while CVS Caremark ...

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