CVS Caremark Successfully Completes Acquisition of Longs Drug Stores
WOONSOCKET, R.I.--(BUSINESS WIRE)--Oct 2008
CVS Caremark Corporation (NYSE: CVS) today announced that it has completed its acquisition of Longs Drug Stores Corporation.
The acquisition provides CVS Caremark with Longs' 521 retail drugstores in California, Hawaii, Nevada and Arizona as well as its Rx America subsidiary, which offers pharmacy benefits management ("PBM") services to over 8 million members and prescription drug plan benefits to approximately 450,000 Medicare beneficiaries.
Tom Ryan, Chairman, President and CEO of CVS Caremark commented, "We look forward to working with our new Longs colleagues and to serving the millions of loyal customers who shop Longs stores. With the closing now behind us, we are focused on realizing the many benefits of this combination, which accelerates our expansion into key growth markets and strengthens our position as the nation's leading pharmacy services company."
Thursday, January 8, 2009
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