CVS Health Corp. (formerly CVS Caremark) is an integrated pharmacy health care provider in the U.S. The company reinvents pharmacy for better health and develops new ways to improve access for patients, promote better health outcomes and control payor costs in a way that no pharmacy retailer or PBM could do separately. It operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a full range of pharmacy benefit management services to its clients consisting primarily of employers, insurance companies, unions, government employee groups, managed care organizations and other sponsors of health benefit plans and individuals throughout the U.S.
The company’s milestones:
1963 — The first CVS store, selling health and beauty products, is founded in Lowell, Massachusetts by brothers Stanley and Sidney Goldstein and partner Ralph Hoagland. CVS stands for Consumer Value Stores.
1964 — The chain grows to 17 stores. The original CVS logo is developed (CVS banner inside a shield, with the words “Consumer Value Stores” below) and displayed on store exteriors for the first time.
1967 — CVS begins operation of its first stores with pharmacy departments, opening locations in Warwick and Cumberland, Rhode Island.
1969 — CVS is sold to Melville Corporation.
1970 — CVS operates 100 stores in New England and the Northeast.
1972 — CVS nearly doubles in size with its acquisition of 84 Clinton Drug and Discount Stores.
1978 — CVS/pharmacy finds success and differentiates itself from the competition by opening small health and beauty aids stores in enclosed shopping malls.
1981 — CVS breaks ground on the Store Support Center in Woonsocket, Rhode Island.
1983 —Hemophilia patient home health care is launched.
1994 — CVS launches PharmaCare, a pharmacy benefit management company providing a wide range of services to employers and insurers.
1999 – CVS announces plans to enter Florida, with stores initially planned for the Tampa market.CVS/pharmacy launches CVS.com, the first fully integrated online pharmacy in the United States.
2000 – CVS/pharmacy announces plans to enter the Chicago market and continue expansion in Florida with stores slated for Fort Lauderdale and Orlando.
2001 — CVS/pharmacy introduces the ExtraCare Card, becoming the first national pharmacy retailer to launch a loyalty card program.
2002 — CVS/pharmacy continues to grow, announcing plans to enter Texas with stores targeted for high-population-growth markets such as Dallas and Houston. The company’s first locations in Phoenix and Las Vegas are also announced.
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2005 — CVS/pharmacy partners with MinuteClinic, announcing three clinics to open in CVS/pharmacy stores.
2016 — CVS Health announces Be The First, a five-year, $50 million initiative to help deliver the nation’s first tobacco-free generation.
2017 — CVS Pharmacy continues to expand access to the opioid overdose-reversal medication naloxone in more than 40 states as part of the company’s multi-faceted approach to combating the nation’s growing prescription drug abuse epidemic.
CVS Health offers patients the lowest cash price in the market for generic epinephrine auto-injector to treat allergic reactions.
2018 — CVS Health fights back on high-cost drugs by launching industry’s most comprehensive approach to saving patients money.
According to cvshealth.com. Source of photo: internet
