CVS Health Corporation (previously CVS Corporation or CVS Caremark Corporation) is an American retail pharmacy and health care company that shares a clear purpose: helping people on their path to better health.
CVS Health through it's health services, plans and community pharmacists, pioneering a bold new approach to total health. Making quality care more affordable, accessible, simple and seamless, to not only help people get well, but help them stay well in body, mind and spirit.
CVS Health began in 1964 with three partners who grew the venture from a parent company, Mark Steven, Inc., that helped retailers manage their health and beauty aid product lines. The business began as a chain of health and beauty aid stores, but within several years, pharmacies were added. CVS began in Lowell, Massachusetts by the Goldstein brothers and their partner Ralph, later had to sell to the Melville Corporation, formerly based in Rye, New York. The CVS name once stood for Consumer Value Stores.
CVS later completed a merger with the pharmacy benefit management company Caremark Rx in 2007 and was renamed CVS Caremark Corporation. The company was renamed CVS Health in 2014 following its decision to remove tobacco products from CVS Pharmacy store shelves. CVS Health's assets include CVS Pharmacy, CVS Caremark, CVS Specialty, and the retail clinic MinuteClinic.
CVS Pharmacy is one of the largest retail pharmacy chains in the United States, with 9,600 stores located in 49 states, the District of Columbia, and Puerto Rico, operating primarily under the CVS Pharmacy, CVS, Longs Drugs, Navarro Discount Pharmacy and Drogaria Onofre names. CVS Pharmacy fills more than one of every five prescriptions in the United States, and 76% of the U.S. population now lives within 5 miles of a CVS Pharmacy. The ExtraCare loyalty program boasts over 70 million cardholders, making it the largest retail loyalty program in the country.
CVS Health has made over 15 acquisitions to date. The most notable acquisitions are as follows- CVS Health has acquired Aetna in Dec 2017 for a massive $69B, In August 18, 2015 CVS Health acquired Omnicare for a total enterprise value of approximately $12.9 billion. CVS Health's acquired Coram, a Apria Healthcare Unit for $2.1 Billion in Nov 2013. In 2015 CVS Acquired Target Pharmacy for $1.9B.
CVS Health ranked #7 on the 2017 Fortune 500 list. On 2018, FORTUNE Recognizes CVS Health List of "World's Most Admired Companies".