CVS Health will sell its long-term care pharmacy business, Omnicare, reporting a $2.5 billion loss related to it in the third quarter, McKnight’s Senior Living reported Wednesday. “We continue to evaluate our portfolio strategically and are making decisions around assets that don’t fit into our portfolio strategically,” President and CEO Karen Lynch said. CVS determined that its LTC business was “no longer a strategic asset” and committed to a plan to sell the LTC business, CVS said in a filing with the Securities and Exchange Commission on Wednesday. Omnicare serves senior living communities and skilled nursing facilities.
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