CVS Corporation Completes Acquisition of Approximately 700 Standalone Sav-On and Osco Drugstores; Gains Immediate Market Leadership in Fast-Growing Southern California Drugstore Markets, and Boosts Share in Key Midwest Markets.WOONSOCKET, R.I. -- CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. is America's #1 Pharmacy, Now Operating Over 6,100 Stores Across 42 States and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). CVS Corporation (NYSE NYSE See: New York Stock Exchange : CVS), today announced that it has completed the acquisition from Albertson's, Inc., of approximately 700 standalone Sav-On and Osco drugstores and a distribution center in La Habra, California. Tom Ryan, Chairman, President, and Chief Executive Officer of CVS Corporation, said: "This acquisition strengthens our position in key Midwest markets and provides an immediate leadership position in the fast-growing southern California markets. Our highly experienced team is already launching our comprehensive integration plan, and we welcome the talented Osco and Sav-On associates into the CVS family. We see significant, long-term strategic and financial benefits from the addition of these stores, and look forward to capitalizing on the many growth opportunities presented by this important acquisition." With more than 40 years of dynamic growth in the retail pharmacy industry, CVS is committed to being the easiest pharmacy retailer for customers to use. CVS has created innovative approaches to serve the healthcare needs of all customers through its CVS/pharmacy(R) stores; its online pharmacy, CVS.com(R); and its pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. , mail order and specialty pharmacy subsidiary, PharmaCare(R). General information about CVS is available through the Investor Relations Investor relations The process by which the corporation communicates with its investors. portion of the Company's website, at http://investor.CVS.com, as well as through the press room portion of the Company's website, at www.cvs.com/pressroom. This press release contains certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The Company strongly recommends that you become familiar with the specific risks and uncertainties outlined under the caption "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations - Cautionary Statement Concerning Forward-Looking Statements" in its Quarterly Report on Form 10-Q for the period ended April 1, 2006. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion