M&A Deal Summary

CVS Health Acquires Caremark Rx

On November 2, 2006, CVS Health acquired healthcare services company Caremark Rx for 21.0B USD

Acquisition Highlights
  • This is CVS Health’s 1st transaction in the Healthcare Services sector.
  • This is CVS Health’s 2nd largest (disclosed) transaction.
  • This is CVS Health’s 4th transaction in the United States.
  • This is CVS Health’s 1st transaction in Tennessee.

M&A Deal Summary

Date 2006-11-02
Target Caremark Rx
Sector Healthcare Services
Buyer(s) CVS Health
Deal Type Add-on Acquisition
Deal Value 21.0B USD

Target

Caremark Rx

Nashville, Tennessee, United States
Caremark Rx LLC provides healthcare services.

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Buyer(S) 1

Buyer

CVS Health

Woonsocket, Rhode Island, United States

Category Company
Founded 1996
Sector Healthcare Services
Employees219,000
Revenue 357.8B USD (2023)
DESCRIPTION
CVS Health office in Buffalo Grove, Illinois.
CVS Health office in Buffalo Grove, Illinois.

CVS Health operates retail pharmacies, and walk-in medical clinics, and is a pharmacy benefits manager. The Company enables people, businesses, and communities to manage health in a variety of ways. CVS Health advises patients on medications at CVS/pharmacy locations, helps clients control costs at CVS/caremark, and delivers care through CVS/specialty and CVS/minuteclinic. CVS Health was founded in 1996 and is based in Woonsocket, Rhode Island.


DEAL STATS #
Overall 4 of 18
Sector (Healthcare Services) 1 of 6
Type (Add-on Acquisition) 3 of 12
State (Tennessee) 1 of 1
Country (United States) 4 of 18
Year (2006) 2 of 2
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-13 MinuteClinic

Woonsocket, Rhode Island, United States

MinuteClinic LLC is a provider of retail-based health clinics in the U.S.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-13 Longs Drug Stores

Walnut Creek, California, United States

Longs has 521 drugstores in California, Hawaii, Nevada and Arizona and also operates Rx America, a prescription benefits management program that services more than 8 million members.

Buy $2.7B