Simpson Thacher is representing The Blackstone Group and its portfolio company, Apria Healthcare Group Inc. (“Apria Healthcare”), in connection with the definitive agreement for Apria Healthcare’s Coram Infusion business unit to be acquired by CVS Caremark (NYSE:CVS) for approximately $2.1 billion. The transaction, which is conditioned upon obtaining customary governmental and regulatory approvals and other standard closing conditions, is expected to close by the end of the first quarter of 2014.
Through its two business units, Apria Healthcare provides home oxygen therapy, sleep apnea products and services, home infusion therapy, enteral nutrition, Negative Pressure Wound Therapy (NPWT) and home medical equipment through approximately 500 locations in the United States. The Coram business unit is a leading provider of home infusion, specialty pharmaceutical distribution and enteral nutrition services with more than 85 branch locations, including 67 ambulatory infusion suites and centralized pharmacy distribution services serving patients in all 50 states.
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