Caremark International: The company said Tuesday that...
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Caremark International: The company said Tuesday that it has completed its purchase of a subsidiary of one of Southern California’s largest medical practices.
Caremark, based in the Chicago suburb of Northbrook, originally said in August that it would acquire the 274-bed Friendly Hills Regional Medical Center in La Habra, 14 medical offices in Orange and Los Angeles counties and certain other assets. The deal is valued at more than $100 million.
While that acquisition is not final, Caremark said Tuesday it has completed the purchase of Strategic HealthCare Management, a Friendly Hills subsidiary for an undisclosed amount.
Formed in 1992, Strategic HealthCare Management is a consulting firm that markets Friendly Hills’ managed-care techniques. Friendly Hills HealthCare network is considered one of the nation’s most innovative medical groups in the area of managed health care. Caremark, a diversified health care company with 1993 sales of nearly $1.8 billion, specializes in home health care, prescription drug benefit management and physical rehabilitation services.
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