07.16.14
CVS Caremark announced that it has entered into a definitive agreement to acquire the assets of Miami-based Navarro Discount Pharmacy, the largest Hispanic-owned drugstore chain in the U.S.
The transaction includes Navarro's 33 retail drugstore locations and Navarro Health Services, a specialty pharmacy serving patients with complex or chronic diseases. The company has annual sales in excess of $340 million.
Helena Foulkes, president, CVS/pharmacy, said:
"The acquisition of Navarro will strengthen CVS/pharmacy's position in the Hispanic marketplace, the fastest growing demographic in the U.S., and we are excited to be adding the Navarro Discount Pharmacy brand to the CVS/pharmacy family.
Juan Ortiz, Chief Executive Officer, Navarro Discount Pharmacy, added:
"Like CVS/pharmacy, Navarro is committed to improving patient health and providing individualized attention. The combination of our stores will continue our tradition of excellent pharmacy care and high quality products."
The transaction includes Navarro's 33 retail drugstore locations and Navarro Health Services, a specialty pharmacy serving patients with complex or chronic diseases. The company has annual sales in excess of $340 million.
Helena Foulkes, president, CVS/pharmacy, said:
"The acquisition of Navarro will strengthen CVS/pharmacy's position in the Hispanic marketplace, the fastest growing demographic in the U.S., and we are excited to be adding the Navarro Discount Pharmacy brand to the CVS/pharmacy family.
Juan Ortiz, Chief Executive Officer, Navarro Discount Pharmacy, added:
"Like CVS/pharmacy, Navarro is committed to improving patient health and providing individualized attention. The combination of our stores will continue our tradition of excellent pharmacy care and high quality products."
