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CVS Caremark and Universal American Announce Termination of Hart-Scott-Rodino Waiting Period
Date:3/1/2011

WOONSOCKET, R.I. and RYE BROOK, N.Y., March 1, 2011 /PRNewswire/ -- In connection with the previously announced acquisition of the Medicare Part D business of Universal American (NYSE: UAM) by CVS Caremark (NYSE: CVS), both companies announced today that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Act. This represents a significant step forward towards completion of the transaction.

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The transaction is expected to close by the end of the second quarter of 2011 and is subject to customary closing conditions, including approval of Universal American shareholders and state regulatory approvals.

"With this step, we are much closer to furthering CVS Caremark's position as a significant player in one of the nation's fastest growing segments of the Pharmacy Benefit Management industry. Now that we have achieved this important milestone, we look forward to closing the deal in the next several months," said Per Lofberg, President of Caremark Pharmacy Services. "We believe that bringing together these two businesses will strengthen our competitive offerings, enabling us to provide Medicare beneficiaries with expanded products and services and lower the cost of pharmacy care.  Today's approval puts us well on our way to accomplishing our goal."

Additional InformationIn connection with the proposed transaction, a newly formed subsidiary of Universal American ("NewCo") will file with the SEC a Registration Statement on Form S-4 that will include a proxy statement of Universal American that also constitutes a prospectus of NewCo. Universal American will mail the proxy statement/pro
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SOURCE CVS Caremark
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