Woonsocket, R.I. - CVS Caremark has entered into an agreement to acquire Coram LLC, the specialty infusion services and enteral nutrition business unit of Apria Healthcare Group Inc. for approximately $2.1 billion. Coram provides infusion therapies and nutrition services to more than 20,000 patients each month, primarily through home infusion as well as a national network of more than 85 locations, including more than 65 ambulatory infusion suites.
"Bringing together CVS Caremark's unique range of specialty pharmacy services with Coram's infusion capabilities will expand our competitive offerings in the specialty arena,” said Jon Roberts, president of CVS Caremark Pharmacy Services. “Infusion will be a valuable component of our broad specialty pharmacy offering going forward. Our comprehensive services will enable us to streamline care management for patients as well as their physicians, leading to better health outcomes while avoiding unnecessary costs.”
Barclays served as CVS’ 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.