CVS Health Corporation is a Rhode Island based Fortune 500 company that has revenues more than 150b$ as of 2015.
It is one of the largest integrated pharmacy healthcare providers in the US and the company formally called as CVS Caremark Corporation. In 1996 the company merged with Medpartner of Alabama and later became Caremark Rx.
Acquisitions and consolidation really helped the company to grow to this extent. Larry Merlo is the CEO and president of Company. In year 1963, the first CVS store which sold health and beauty products was first founded in Lowell, Massachusetts by Stanley and Sidney Goldstein and their business partner Ralph Hoagland. Even then CVS stood as the Consumer Value Stores.
Recently in 2015 MinuteClinic reached the new milestone of astounding 25 million patient visits. The company also announced to acquire, rebrand and operate Target’s pharmacies and clinics.
The company's big advantage came through consolidating the fragmented drug industry and also the company's strong focus on Specialty drugs as well. The company has the most successful retail loyalty program in retail and pharmacy in US with their Extracare program.
CVS Pharmacy, minute clinic, Caremark Rx, CVS specialty are the major business divisions of this group. Pharmacy benefit management services, mail order, disease management programs, retail and specialty pharmacy and retail clinics are part of the offerings of the company.
CVS is the parent to many private labels and proprietary brands such as Just the Basics, Gold Emblem, Blade and Life fitness. The company recently announced digital receipts program for all its Extracare members, as an initiative to avoid papers and digitize the consumer experience