Cvs Health Corporation Executive Summary

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CVS Health Corporation, incorporated on 1996, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc. (Omnicare) and Omnicare's long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other auxiliary services to chronic care facilities and other care settings. It operates through three segments:
· Pharmacy Services
· Retail/LTC
· Corporate.
The Company delivers products and services by advising patients on their medications at its CVS Pharmacy locations; introducing programs for clients at CVS Caremark; delivering care to patients with complex conditions through …show more content…

For much of its life, Melville was known mainly for its chain of footwear stores. Although during the 20th century, Melville acquired several other retailing operations (Pressler, 1998). Among these was the Consumer Value Stores (CVS) retail drug chain. Melville continued as a retailing conglomerate into the mid-1990s, when the company then decided to concentrate on its best-performing chain, CVS. The company divested the last of its non-drugstore chains in 1997(Pressler, …show more content…

The web site was renamed CVS.com, enabled customers to order prescriptions and general merchandise (Rundle,2000). Another initiative in 1999 was the launching of CVS ProCare, a chain of specialty pharmacies, serving patients with chronic diseases and conditions that require complex and expensive drug regimens. The market for specialty pharmaceuticals, estimated at about $16 billion in 1999, was a particularly fast-growing segment of the drug industry, but it was highly fragmented. CVS clearly saw the potential for being a consolidator in this segment of the market (Rundle,2000). Its first such acquisition came in September 2000 with the purchase of Stadtlander Pharmacy, a company that generated annual revenues of $500 million by selling drugs by mail-order to patients with chronic conditions. By the end of 2000, CVS's specialty pharmacy business consisted of mail-order operations and 46 CVS ProCare pharmacies located in 17 states and the District of Columbia. Overall, CVS saw its revenues surpass the $20 billion mark for the first time in 2000, while net income reached a record $746 million (Rundle, 2000). The company established an expansion strategy, that achieved by entering new markets during in several

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