About the Company
CVS Health (NYSE: CVS) is an American healthcare company. Its corporate headquarters are located in Rhode Island, United States. The first Consumer Value Store (CVS) was founded in 1963, and primarily sold health and beauty products in Lowell, Massachusetts. In 1967, its operation expanded to include pharmaceuticals, and the company opened its stores across Rhode Island in Warwick and Cumberland. By 1970, CVS was operating about 100 stores in the Northeast as well as New England, expanding its business operations nationwide. As of 2020, CVS had more than 9900 retail locations across the US.
CVS also owns several brands including CVS Pharmacy, CVS Beauty, CVS Caremark and CVS MinuteClinic. Over the years, it has acquired several companies and continued to grow as a leading retail pharmacy. In 2000, CVS bought off the specialty pharmacy unit of Bergen Brunswig, named Stadtlander Pharmacy, in a $125 million transaction. With this merger, CVS ProCare emerged as the largest speciality in the US at the time. Another major merger took place in 2015 when it acquired Target Corporation’s pharmacy and clinic businesses in a $1.9 billion transaction. In 2017, CVS announced the acquisition of Aetna, Inc. for $69 billion, the largest corporate acquisition that year.
CVS Health shares trade on the New York Stock Exchange (NYSE) under the ticker symbol CVS. CVS stocks are an S&P 500 as well S&P 100 component.As of 2020, CVS Health retained its market position as the largest pharmacy services provider in the US. Its business comprised the largest network of retail pharmacy stores across the country, alongside other pharmacy services. It ranked 5th on the list of Fortune 500 companies. CVS held the 40th rank on Forbes’ list of Global 2000 companies. Forbes also recognised it as one of the World’s Most Valuable Brands and America’s Best Employers by State in 2020. It was also included on Forbes’s list of Just Companies 2021.;
Organisation | CVS Health Corporation |
Industry | Healthcare Plans |
HeadQuarters | Woonsocket, RI |