Content about Universal American Corp.

March 1, 2011

CVS Caremark Corp. said Tuesday that federal antitrust regulators cleared its planned acquisition of insurer Universal American Corp.'s Medicare Part D prescription drug business.

Woonsocket, R.I.  -- CVS Caremark Corp. said Tuesday that federal antitrust regulators cleared its planned acquisition of insurer Universal American Corp.'s Medicare Part D prescription drug business.

CVS and Universal American said the Federal Trade Commission has ended a mandatory review of the $1.25 billion deal. Universal American shareholders and state regulators still need to clear the deal.

The companies announced the transaction Dec. 31, and they expect it to close by the end of the second quarter.

January 3, 2011

CVS Caremark Corp. said Friday it will pay $1.25 billion to buy Universal American Corp.'s Medicare prescription drug services unit.

Woonsocket, R.I. -- CVS Caremark Corp. said Friday it will pay $1.25 billion to buy Universal American Corp.'s Medicare prescription drug services unit. The deal will more than double the size of the chain’s Medicare drug business.

CVS said it pursued the deal because with the country's population aging, a growing percentage of Americans will get their prescription drug coverage from Medicare.