WOONSOCKET – CVS Corp. and pharmaceutical services company Caremark Rx Inc. today confirmed they are involved in talks about a possible merger of equals.
“There can be no assurances that any agreement will be reached or that a transaction will be consummated,” the companies said in their joint announcement. “There will be no further comment until the discussions are concluded.”
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Woonsocket-based CVS Corp. (NYSE: CVS) is America’s largest retail pharmacy, operating approximately 6,200 retail and specialty pharmacies in 43 states and the District of Columbia. Besides the CVS/pharmacy stores and CVS.com online pharmacy, it operates a retail-based health clinic subsidiary, MinuteClinic; and a pharmacy benefit management, mail order and specialty pharmacy subsidiary, PharmaCare. Additional information is available through the Investor Relations portion of the CVS Web site, at investor.CVS.com, as well as through the online pressroom, at www.cvs.com/pressroom.
Nashville-based Caremark Rx Inc. (NYSE: CMX), founded in Tennessee in 1993, dispenses pharmaceuticals to eligible participants in benefit plans maintained by its customers; and utilizes its information systems to perform safety checks, drug interaction screening, and generic substitution.
The company provides prescription drugs both directly, through its own mail-service pharmacies, and indirectly through a network of third-party retail pharmacies. Its customers include employers, unions, government employee groups, insurance companies, managed care organizations, and individuals. Caremark Rx also offers CarePatterns and Accordant disease management programs for illnesses including asthma, coronary artery disease, congestive heart failure, diabetes, hemophilia, rheumatoid arthritis, and multiple sclerosis.
As of Dec. 31, it managed 536 million prescriptions from nearly 2,000 organizations, operating seven automated mail-service pharmacies and 21 smaller regional mail-service pharmacies. Additional information is available at www.caremark.com.
