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May

22

CVS Health Agrees to Buy Omnicare in $12.7 Billion Deal

By Tony Seruga

A CVS store in Manhattan. Buying Omnicare is expected to broaden CVS Health’s role in the specialty pharmacy business. CreditSpencer Platt/Getty Images

As the American population gets older, pharmacies and other health care providers are increasingly positioning themselves to capitalize and serve the needs of this demographic. This group often needs drugs for chronic conditions like diabetes and heart disease, as well as lifesaving medications for sudden conditions like infections or pneumonia.

To cater to that group, the CVS Health Corporation is acquiring the pharmacy services provider Omnicare, which distributes prescription drugs to nursing homes and assisted-living operations…

CVS Health Agrees to Buy Omnicare in $12.7 Billion Deal

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