CVS Caremark completes $2.1B deal for Coram

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CVS Caremark on Friday completed its $2.1 billion purchase of Coram LLC, the infusion services unit of Apria Healthcare Group Inc.

Coram cares for about 165,000 patients a year. It has 4,600 employees, including 600 nurses, 350 pharmacists and 250 dietitians, operating primarily through 85 branch locations and six patient intake centers.

“With the acquisition of Coram, we have expanded our competitive offerings in specialty services,” said Jon Roberts, president of CVS Caremark Pharmacy Services.

Coram is expected to generate about $1.4 billion in revenue in the first 12 months. CVS Caremark expects the deal to add between 3 cents and 5 cents to adjusted earnings per share in 2015.

CVS Caremark operates more than 7,600 CVS/pharmacy stores, a pharmacy benefit manager, and a retail health clinic system.

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