Description

CVS Health Corporation stands as a prominent American healthcare services provider. Through its Health Care Benefits division, CVS Health delivers a spectrum of health insurance offerings, encompassing traditional, voluntary, and consumer-driven plans, alongside associated services. Its diverse clientele includes employer organizations, individuals, university students, hourly and part-time staff, various health plans, healthcare providers, government entities, state-sponsored programs, labor unions, and individuals residing abroad. The Pharmacy Services segment is dedicated to providing comprehensive pharmacy benefit management (PBM) solutions. These include designing and administering plans, managing drug formularies, overseeing retail pharmacy networks, offering mail-order and specialty pharmacy services (including infusion), and providing clinical, disease, and medical cost management services. This segment caters to a broad range of clients such as businesses, insurers, unions, government employee schemes, diverse health plans, prescription drug programs, Medicaid managed care organizations, and both public and private health insurance exchanges, in addition to other health benefit plan sponsors and individuals. Operationally, it manages various retail specialty pharmacies, mail-order and specialty mail-order dispensing facilities, compounding pharmacies, and specialized centers for infusion and enteral nutrition. Meanwhile, the Retail/Long Term Care (LTC) division focuses on the sale of both prescribed and over-the-counter medications, alongside health, beauty, and personal care items. It also delivers accessible healthcare through its MinuteClinic walk-in medical clinics. Furthermore, this division is involved in the distribution of prescription drugs and offers pharmacy consulting and other supportive services to various care facilities. As of the close of 2021, CVS Health's footprint included roughly 9,900 retail outlets, 1,200 MinuteClinic sites, a presence through online retail pharmacy platforms, as well as dedicated LTC pharmacies and on-site pharmacy operations. Founded in 1963, the company initially operated as CVS Caremark Corporation before adopting its current name, CVS Health Corporation, in September 2014. Its corporate headquarters are situated in Woonsocket, Rhode Island.