CVS Health overview

CVS Health is a pharmacy company, offering services from advising on prescriptions to helping manage chronic and specialty conditions to providing quality walk-in medical care and pharmacy benefits management. Founded in 1892 and based in Woonsocket, R.I., CVS serves both individuals and businesses. The corporation was ranked eighth on the Fortune 500 list in 2019 after reporting a 2018 revenue of $194.579bn.

CVS Health has 7,700 retail pharmacies, more than 900 walk-in medical clinics, 65 million pharmacy benefit manager plan members, and specialty pharmacy services.

In August 2018, the company revealed that its retail medical clinic, MinuteClinic, would be introducing a new virtual healthcare offering to 9 states across North America. Taking advantage of Teladoc’s technology platform, patients will be able to receive care through the CVS Pharmacy app. 

CVS Health acquired Aetna, a health insurance company, in November 2018 for $69bn. The company also owns CVS Pharmacy (a pharmacy chain), Caremark (a pharmacy benefits manager), Coram (an infusion services provider) and MinuteClinic (the largest walk-in medical clinic company in the US).

At their 2019 investor day, CVS Health revealed that it would commit to rolling out 1,500 of its health-centred stores, called HealthHubs, by the end of 2021.

In November 2019 CVS delivered a medical prescription from a CVS pharmacy to a consumer's home via drone. The company used the services of drone systems developer Matternet to help complete the delivery. CVS plans to to continue developing a drone delivery system in partnership with UPS, focusing on utilising them in rural communities where delivery can be difficult.

Map showing the location of CVS Health

Woonsocket, United States

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Key people

Jonathan C. Roberts Executive Vice President, CVS Health and President, CVS/Caremark
David M. Denton Executive Vice President and Chief Financial Officer
Troyen Brennan, M.D. Executive Vice President and Chief Medical Officer
Larry Merlo President & CEO
Thomas Moriarty Executive Vice President, Chief Health Strategy Officer & General Counsel
William Weldon Member of the Board of Directors
Helena Foulkes Executive Vice President, CVS Health and President, CVS/Pharmacy
Claus Torp Jensen CTO and Head of Architecture