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CVS Caremark to Purchase Coram Infusion Business from Apria Healthcare, Expanding Specialty Pharmacy Offering
Date:11/27/2013

eficiencies, rheumatoid arthritis, multiple sclerosis and nutritional deficiencies) can be administered in many settings - including hospitals, physician's offices, infusion centers and patients' homes.  However, costs related to where the drug is administered can vary significantly.  A CVS Caremark analysis demonstrates that providing infusion services in the home or an ambulatory setting are by far the most cost-effective sites of service.

"CVS Caremark and Coram share a mutual commitment to provide patients with quality care," said John G. Figueroa, Chief Executive Officer of Coram LLC and Chairman of the Board of Directors for Apria Healthcare Group. "Coram has a demonstrated track record of providing access to infusion services delivered by experienced and knowledgeable clinical staff."

The acquisition is consistent with CVS Caremark's goal of investing in core businesses that help drive growth.  Coram is expected to generate approximately $1.4 billion in revenues during the first twelve months following the close of the deal.  Including one-time transaction and integration costs, the transaction is expected to have an immaterial impact on CVS Caremark's overall financial results in 2014.  The transaction is expected to add $0.03 to $0.05 cents to the Company's Adjusted Earnings Per Share in 2015, the first full year following the close of the deal.  The deal is subject to customary closing conditions, including necessary regulatory approvals, and is expected to close by the end of the first quarter of 2014.

Barclays served as the Company's financial advisor on the transaction, while Sullivan and Cromwell LLP served as legal advisor and Dechert LLP served as legal advisor from an anti-trust perspective.

About CVS Caremark
CVS Caremark is dedicated to helping people on their path to better health as the largest integrated pharmacy company in the United States'/>"/>

SOURCE CVS Caremark
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