CVS Health has completed the acquisition of Omnicare for $12.7 bn.

CVS Health, a pharmacy company, has completed the acquisition of Omnicare, the leading provider of pharmacy services to long term care facilities for $12.7 bn. With the acquisition of Omnicare, CVS Health will significantly expand its ability to dispense prescriptions in assisted living and long term care facilities, serving the senior patient population. CVS Health will also expand its presence in the rapidly growing specialty pharmacy business. Omnicare's complementary specialty pharmacy platform and clinical expertise will augment CVS Health's capabilities and enable CVS Health to continue to provide innovative and cost-effective solutions to patients and payors. "The acquisition of Omnicare significantly expands our business, providing CVS Health access into a new pharmacy dispensing channe. It also creates new opportunities for us to extend our high-quality, innovative pharmacy programs to a broader population of seniors and chronic care patients as they transition across the care continuum. We have been impressed by the Omnicare team and what they have created for the patients they serve." Larry Merlo CVS Health President and CEO.