Providence, Rhode Island – On Tuesday, the Health Services Council approved CVS Health Corp.’s purchase of Rhode Island home care provider.
The CVS Health Corp is one of the country’s health care giants, and on Tuesday, the Health Services Council approved its purchase of Rhode Island home care provider, the Coram LLC, which has been well-known as an infusion drug company.
On November 2013, CVS Health Corp, based in Woonsocket agreed to purchase the Coram LLC for 2.1 billion dollars. The infusion drug company is a division of the Apria Healthcare Group Inc.
Both companies, on the other hand, have been very well known in providing people with urgent care clinics through their products and services. Both firms offer urgent care and treatment for millions of people as their products and services are widely used for health care needs.
The approval of the purchase agreement was only a portion of the council meeting, thus, the announcement of the closed deal followed through. The deal involved a Coram LLC unit, which manages nearly $50,000 worth of medical services annually. The unit has served as an urgent care clinic for numerous people within the East Providence.
Attorney Stephen D. Zubiago told the council members that the unit was only a very small part. Zubiago, along with Craig Weinert, Coram representative attended the meeting in order to help in answering some questions regarding the entire transaction. Weinert said in a statement, that the acquisition was a new endeavor for the whole CVS.
The purchase of Rhode Island home care provider was only a part of the transaction with Apria. CVS acquired about 90 Coram units in 38 different states, including the one in Massachusetts, the Coram Health Care Corp, which provides home nursing services through its Pawtucket Avenue office.
The Woonsocket-based company started as a drugstore chain, and did not offer infusion services since. CVS thrived to expand continuously, and decided to provide infusion services at homes, offering an urgent care near me facility at the comfort of homes was the new endeavor of the company. Thus, the acquisition of Coram as CVS wanted to be involved in home care, Zubiago said.
Infusion services provided in a home were something more complex than what CVS provides at its MinuteClinic units, which are merely walk-in treatment locations.
Unanimously, the council approved the purchase of Rhode Island home care provider, changing the Coram unit control over a CVS subsidiary.
