CVS to buy 19 pharmacies in Texas

CVS Caremark to expand presence in Texas with acquisition of 19 Medicine Chest pharmacies

Associated Press

WOONSOCKET, R.I. (AP) -- CVS Caremark Corp. is buying 19 pharmacies in Texas, boosting its presence in a state where it already has more than 500 locations.

The Woonsocket, R.I., company said Friday that it will buy the stores from Texas chain Medicine Chest during the last weekend in December. It did not disclose terms of the deal.

CVS will operate nine of the locations and relocate 10 into nearby CVS pharmacies.

CVS is the second-largest U.S. drugstore chain with more than 7,400 locations. It trails only Walgreen Co.

Shares added 74 cents, or 1.5 percent, to $49.24 in early morning trading Friday.

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