Here’s another big gobble and former White House ACA leader and Medicare Head, Nancy DeParle who sits on the CVS Board can count more money into her wallet. The fine in California just happened to be announced today as well. The fine was for selling items in the store and prescriptions for more than their advertised prices. A few years ago Walgreens and Omni-Care did a swap of business lines so Walgreens could get the Home Infusion business from Omni-Care.
Walgreens and Omnicare Swap Businesses–Giving Long Term Pharmacy Care to Omni and They Get Omni’s Home Infusion Business
A couple years ago Omni-Care purchased this infusion business as well. The company offers the services of a lot of in house consultants.
What is somewhat crazy is we had this with the FTC saying that Omni-Care couldn’t buy PharMerica and then today it doesn’t make any difference as look what all is under the CVS umbrella.
FTC Says No to Omnicare Take Over of PharMerica and Files Lawsuit to Block as The Combined Company Would Control 60% of Drugs Supplied to Nursing Homes
Omni-Care also bough Continuing Care RX which serves 40,000 beds of long term care facilities a couple years ago. Both CVS and Omni-Care have certainly racked in their share of fines from the DOJ and DEA over the years too. Omnicare employs about 13,000 employees at 160 locations in The US. BD
CVS Health will spend more than $10 billion to buy pharmacy services provider Omnicare and tap a growing target for prescription drug distribution: care for the elderly.
The deal announced Thursday will give one of the nation's biggest pharmacy benefits managers national reach in dispensing prescription drugs to assisted living and skilled nursing homes, long-term care facilities, hospitals and other health care providers. Omnicare's long-term care business operates in 47 states and the District of Columbia.
Cincinnati's Omnicare also provides pharmacy consulting and runs another segment that provides specialty pharmacy services.
Specialty drugs are complex medications that treat certain forms of cancer or hepatitis C, among other conditions. They often represent treatment breakthroughs but can cost considerably more than other prescriptions. Use of these drugs is climbing, and insurers and employers are looking for help containing that cost.