(Reuters) - CVS Health Corp , the second-largest U.S. drugstore operator, is in advanced talks to buy pharmacy service provider Omnicare Inc , Bloomberg reported, citing people with knowledge of the matter.
The deal with Omnicare, which has a market value of about $9.2 billion, could be announced as soon as this week, according to the report. (http://bloom.bg/1KkTgWe)
Shares of Omnicare, the top U.S. provider of pharmacy services to the elderly, rose as much as 6.7 percent at $101 in after-hours trading on Wednesday following the Bloomberg report.
Both the companies are still finalising the terms of the deal, and no agreement is certain, Bloomberg said citing the people.
The news comes at a time when most pharmacy benefit managers and pharmacy chain operators are consolidating to get better prices on drugs.
Representatives at CVS Health and Omnicare were not immediately available for comment.
Bloomberg had earlier reported in April that Omnicare was looking to sell itself.
(Reporting by Aurindom Mukherjee in Bengaluru; Editing by Lisa Shumaker)
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