CVS Caremark Closes Longs Acquisition

CVS Caremark Corp. yesterday said it has completed its acquisition of Longs Drug Stores Corp., Walnut Creek, Calif.

WOONSOCKET, R.I. — CVS Caremark Corp. here yesterday said it has completed its acquisition of Longs Drug Stores Corp., Walnut Creek, Calif. The acquisition provides CVS Caremark with Longs’ 521 retail drugstores in California, Hawaii, Nevada and Arizona, as well as its Rx America subsidiary, which offers pharmacy benefits management services to over 8 million members and prescription drug plan benefits to approximately 450,000 Medicare beneficiaries. “We look forward to working with our new Longs colleagues and to serving the millions of loyal customers who shop Longs stores,” said Tom Ryan, chairman, president and chief executive officer of CVS Caremark. “With the closing now behind us, we are focused on realizing the many benefits of this combination, which accelerates our expansion into key growth markets and strengthens our position as the nation’s leading pharmacy services company.”

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