CVS is buy­ing the phar­macy benefits provider Om­ni­care in a deal val­ued es­ti­mated at $12.7 bil­lion.

Modern Healthcare - - LATE NEWS -

The move is aimed at ex­pand­ing its re­search into as­sisted-living and se­nior-care fa­cil­i­ties. The planned deal comes at a good time for Om­ni­care. The Cincin­nati-based com­pany re­ported net sales of $1.7 bil­lion in the quar­ter ended March 31, a 5.7% in­crease over the pre­vi­ous year’s quar­ter. CVS Health Corp saw an 18.2% in­crease in rev­enue of its phar­macy ser­vice seg­ment dur­ing the three months ended March 31, 2015. The planned deal is ex­pected to close near the end of 2015.

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