CVS Health
CVS Health is an American healthcare company that owns CVS Pharmacy, a retail pharmacy chain, CVS Caremark, a pharmacy benefits manager, Aetna, a health insurance provider, among many other brands. The company's headquarters are in Woonsocket, Rhode Island.
History[edit | edit source]
CVS Health was founded in Lowell, Massachusetts by the Goldstein brothers in 1963. The name "CVS" was originally an abbreviation for Consumer Value Stores. Over the years, CVS Health has made several acquisitions, including the $69 billion acquisition of Aetna in 2018, which has significantly expanded its healthcare services.
Services[edit | edit source]
CVS Health operates in the healthcare and retail sectors, providing a wide range of services. These include:
- Pharmacy Services: CVS Pharmacy is the largest pharmacy chain in the US, with over 9,900 locations. It provides prescription drugs, over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods.
- Pharmacy Benefit Management Services: CVS Caremark, the company's pharmacy benefits manager (PBM), provides plan design and administration, formulary management, Medicare Part D services, mail order pharmacy services, specialty pharmacy services, retail pharmacy network management services, prescription management systems, clinical services, disease management services, and medical pharmacy management services.
- Health Insurance Services: Aetna, a CVS Health company, provides traditional, voluntary, and consumer-directed health insurance products and related services. These include medical, pharmacy, dental, behavioral health, group life, and disability plans.
Financial Performance[edit | edit source]
CVS Health is listed on the New York Stock Exchange under the ticker symbol "CVS". The company has consistently been ranked among the top in the Fortune 500 list.
Criticisms and Controversies[edit | edit source]
CVS Health has faced several criticisms and controversies over the years, including lawsuits related to its pricing, privacy policies, and business practices.
See Also[edit | edit source]
References[edit | edit source]
External Links[edit | edit source]
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- Companies listed on the New York Stock Exchange
- Health care companies of the United States
- Pharmacy brands
- Companies based in Rhode Island
- American companies established in 1963
- Retail companies established in 1963
- 1963 establishments in Massachusetts
- Pharmacies of the United States
- Pharmacy benefit management companies based in the United States
Contributors: Prab R. Tumpati, MD
