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CAREMARK DIVIDEND DECLARED AFTER COMPANY'S FIRST ANNUAL MEETING

 NORTHBROOK, Ill., Oct. 26 /PRNewswire/ -- Caremark International's (NYSE: CK) first dividend was declared today by its board of directors after the alternate-site health care company's annual meeting in Chicago. The 4-cent-per-share yearly dividend on all outstanding common stock is payable Dec. 15, 1993, to shareholders of record Nov. 15, 1993. At the meeting, Chairman and Chief Executive Officer Lance Piccolo cited Caremark's strong 1993 financial performance and stressed its commitment to continued market leadership.
 The annual meeting was held in October so Caremark, newly public last November, could share three full quarters of performance with shareholders. The company's 1994 annual meeting will be April 19. Piccolo said Caremark's rapid growth this year has fully met expectations. He emphasized that the company's prospects are excellent because its business portfolio has successfully diversified beyond its historic home infusion base into other key areas of health care. Piccolo also cited the company's demonstrated ability to work effectively with managed care providers and participate with comprehensive services in new integrated health care delivery systems.
 Piccolo reported that Caremark's three straight quarters of year- over-year net revenue and net income gains resulted in a 23 percent increase in net revenues and a 31 percent increase in net income for the nine-month period. He pointed out that the company's operating margins (after minority interest) improved in both its patient care and managed care business segments.
 Caremark is focused on such key growth areas as physician services, prescription drug benefit management and international operations, on continuously reducing operating expenses and on creating service packages and pricing systems meeting managed care needs, Piccolo said. He reported the company's strength as the largest independent prescription drug manager has been recently enhanced by significant additional corporate accounts and new relationships with large commercial insurers.
 Piccolo also said that Caremark this year has affiliated with a number of physician groups, providing practice management and other services. Included are large multispecialty practices like the Houston- based Kelsey-Seybold Clinic and the Oklahoma City Clinic; the Regional Kidney Dialysis Program in Minnesota; and an expanding national network of oncology practices.
 The company's home infusion business has been strengthened by restructuring and reduced operating costs, Piccolo added. Innovative, more efficient ways to deliver quality care are being developed, he continued, and new initiatives like the Home Care Management System will expand the company's role as an integrated provider. Piccolo also pointed to an accelerated emphasis on managed care and workers' compensation programs as key means of expanding business in the company's orthopedic services division.
 Internationally, Caremark now operates in Canada, France, Germany, Japan, the Netherlands, Puerto Rico and the United Kingdom, providing treatment for cancer and HIV/AIDS, as well as nutrition therapy. Most recently, the company opened its second AIDS clinic in Munich, Germany.
 Caremark International is a leading provider of alternate-site health care. The company markets a broad range of therapies and services to patients, physicians, providers and payors, and works as a partner in managed care delivery systems. Caremark had 1992 sales of $1.46 billion.
 -0- 10/26/93
 /CONTACT: Steve Mazur of Caremark International, 708-559-4696/
 (CK)


CO: Caremark International ST: Illinois IN: HEA SU: DIV

JS -- NY077 -- 6837 10/26/93 13:52 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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