CVS meets 4Q profit forecasts, reaffirms 2016 outlook

CVS Health’s fourth-quarter profit increased 13% due in large part to acquisitions, and company executives said Tuesday that they expect to reap more gains from their deal making later this year. CVS Health spent more than $10 billion to buy pharmaceutical distributor Omnicare in a deal that closed last summer and about $1.9 billion to take over the pharmacy and clinic business of Target Corp. The Omnicare deal gave CVS Health national reach in dispensing prescription drugs to assisted living and skilled nursing homes, long-term care facilities, hospitals, and other care providers.