US: CVS to spend $2.1B for biggest buyout in five years

CVS Caremark Corp., the nation’s largest prescription drug provider, announced plans for its largest acquisition in five years, the buyout of Coram LLC for about $2.1 billion.

In a statement, CVS announced Wednesday plans to acquire th company currently owned by Apria Healthcare Group. The move will allow CVS to expand is operations in the antibiotic, nutrition and pain therapy business through intravenous therapy.

The deal is CVS’s largest since it acquire Longs Drug Stores for $2.8 billion in 2008 following a bidding war with CVS rival Walgreens.

According to reports, the deal also marks the third-largest drug-retail acquisition deal in the past five years.

Full Content: Bloomberg

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