CVS completes acquisition of Longs Drugs

WOONSOCKET, R.I. As expected, CVS Caremark today completed its acquisition of Longs Drug Stores, a move that makes CVS a major player on the West Coast and transforms the self-proclaimed pharmacy health care service company into one that will fill or manage more than 1.2 billion prescriptions per year and will operate approximately 6,800 drugstores in 41 states and the District of Columbia.

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. 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,” Tom Ryan, chairman, president and chief executive officer said.