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Former CVS Caremark chairman announces healthcare venture with WL Ross

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NEW YORK Former CVS Caremark chairman Edwin "Mac" Crawford has joined forces with WL Ross CEO Wilbur Ross, to co-invest in and restructure healthcare companies.

Crawford said, "My team and I are excited to join forces with such a distinguished private equity firm at this pivotal time for the healthcare industry.  The pending structural changes to the industry will create new winners and losers, and I am eager to play a major role in adapting to this challenging environment."

Crawford was named chairman of the board at CVS Caremark after the two entities merged in 2006. In his roll at Caremark, Crawford lead one of the nation's leading pharmaceutical services companies, which shifted its services' focus to the consumer during his reign, thus "[addressing] the needs of both payers and consumers by providing high-quality, cost-effective services in a manner that is convenient, flexible and easy for the consumer to navigate and understand," he said at the time.

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