US-based CVS Health has completed the acquisition of Omnicare for $12.9bn, which provides pharmacy services to long-term care facilities.

The deal was first announced by both firms in May this year. As part of the deal, CVS Health paid $98 per Omnicare share in cash, which includes $2.3bn in debt.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Based in Cincinnati, Ohio, Omnicare offers comprehensive pharmaceutical services to patients and providers across the US.

"The acquisition of Omnicare significantly expands our business, providing CVS Health access into a new pharmacy dispensing channel."

The company provides professional pharmacy, related consulting and data management services for skilled nursing, assisted living and other chronic care institutions.

With 13,000 employees, Omnicare has 160 locations in 47 states across the US.

The acquired business is expected to enhance CVS Health’s ability to dispense prescriptions in assisted living and long-term care facilities, providing services to a senior patient population.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

CVS Health president Larry Merlo said: "The acquisition of Omnicare significantly expands our business, providing CVS Health access into a new pharmacy dispensing channel.

"It also creates new opportunities for us to extend our high-quality, innovative pharmacy programmes to a broader population of seniors and chronic care patients as they transition across the care continuum."

Through its Specialty Care Group, Omnicare offers specialty pharmacy and key commercialisation services for the bio-pharmaceutical industry.

CVS Health, a pharmacy benefits manager with 70 million plan members, operates 7,800 retail drugstores and 1,000 walk-in medical clinics.