By Sam Wroblewski 630wpro.co and the Associated Press
CVS Health announced they are set to acquire Omnicare to the tune of $12.7 million in order to expand their pharmacy operations into long term care facilities like nursing and assisted living homes.
The Woonsocket-based pharmacy chain will pay $98 per share for the company at a premium. The deal also includes $2.3 billion in debt.
CVS Health, formerly called CVS Caremark, runs one of the biggest pharmacy benefits management operations along with its drugstores. Omnicare has about 13,000 employees at 160 locations in 47 states.
