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CAREMARK WILL ESTABLISH INDEPENDENT, NON-PROFIT RESEARCH/GIVING PROGRAM

This article was originally published in The Gray Sheet

Executive Summary

CAREMARK WILL ESTABLISH INDEPENDENT, NON-PROFIT RESEARCH/GIVING PROGRAM in the first quarter of 1995 to carry out the company's "general-purpose research grant, endowment and charitable giving program," the home health care services provider announced Sept. 26. In 1993, Caremark donated "more than $3 mil. to support research on hemophilia, HIV/AIDS, cancer and other serious illnesses." Caremark Chairman and CEO Lance Piccolo said that with the establishment of the non-profit, independent foundation, "we place our grant and endowment program above the vagaries and concerns caused by changing regulations in the health care industry."
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