CVS Health Corporation is an American healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands.
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27 Facts About CVS Health
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2.
In December 2017, CVS Health agreed to acquire Aetna for $69billion and completed the acquisition in November 2018.
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3.
In February 2020, CVS Health announced changes to its board of directors, whose size was reduced 16 to 13 directors.
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4.
In 2021, CVS Health was ranked 4th on the Fortune 500 list, and 7th on the Fortune Global 500 list.
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5.
On November 18,2021, CVS Health announced that the company plans to close 900 stores over the next three years with closing due to begin in the spring of 2022.
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6.
CVS Health, begun in Lowell, Massachusetts, by brothers Stanley and Sidney Goldstein and their partner Ralph Hoagland, later had to sell to the Melville Corporation, formerly based in Rye, New York.
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7.
In 1967, CVS Health opened its first stores with pharmacy departments in Warwick, Rhode Island, and Cumberland, Rhode Island.
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8.
In September 2022, CVS Health announced that it reached an agreement to buy at-home health company Signify Health for roughly $8 billion.
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9.
CVS Health Caremark provides comprehensive prescription benefit management services including mail order pharmacy services, specialty pharmacy and infusion services, plan design and administration, formulary management and claims processing.
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10.
CVS Health Caremark manages the dispensing of prescription drugs for more than 75million plan members through five mail order pharmacies, specialty pharmacies, long-term care pharmacies and national network of more than 68,000 retail pharmacies, consisting of approximately 41,000 chain pharmacies and 27,000 independent pharmacies.
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11.
CVS Health Specialty is the specialty pharmacy division that provides specialty pharmacy services for individuals with chronic or genetic diseases who require complex and expensive drug therapies.
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12.
CVS Health operate 24 retail specialty pharmacy stores and 11 specialty mail order pharmacies, making them the largest specialty pharmacy in the United States.
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13.
CVS Health was acquired by CVS Health in October 2008, and is operated as a separate brand.
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14.
CVS Health mainly operates in Miami-Dade and Broward Counties and currently has 33 stores.
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15.
CVS Health is operated as a wholly owned subsidiary of CVS Health Corporation.
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16.
CVS Health offers a number of over-the-counter private label brands in their retail pharmacy stores, including grocery brands Gold Emblem™ and Gold Emblem Abound™; household products under the Total Home name; preservative-free vitamins and supplements under the Radiance PLATINUM line; and beauty and skin products through the Beauty 360, Nuance Salma Hayek, Makeup Academy, Skin+Pharmacy, Blade and Essence of Beauty lines.
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17.
On February 5,2014, CVS Health announced that the company would discontinue the sale of all tobacco and cigarette products from their stores by October 1,2014.
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18.
In 1998, The Washington Post reported that CVS Health Corporation appeared to be sharing prescription drug information with the Woburn, Massachusetts, based marketing company, Elensys.
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CVS Health claimed that it never shared customers' medical histories with Elensys.
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20.
In February 2008, CVS Health settled a large civil lawsuit for deceptive business practices.
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21.
The settlement prohibits CVS Health from requesting prescription drug switches in certain cases, such as when the cost to the patient would be higher with the new prescription drug; when the original prescription drug's patent will expire within six months; and when patients were switched from a similar prescription drug within the previous two years.
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22.
On February 18,2009, CVS Health Caremark agreed to settle Federal Trade Commission charges that it failed to take reasonable and appropriate security measures to protect the sensitive financial and medical information of its customers and employees, in violation of federal law.
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23.
On January 12,2012, CVS Health Caremark paid $5million to settle Federal Trade Commission charges that it misrepresented the prices of certain Medicare Part D prescription drugs – including drugs used to treat breast cancer symptoms and epilepsy – at CVS Health and Walgreens pharmacies.
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24.
On November 15,1999, CVS Health announced a restatement of its financial results for 1997, and 1998, following a Securities and Exchange Commission review of acquisition-related charges.
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25.
On February 25,2005, CVS Health said it was reducing its previously announced fourth-quarter earnings by $40.
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26.
In September 2016, Massachusetts Attorney General Maura Healey announced a $795,000 settlement where CVS Health agrees to check a state database before filling the prescription for addictive opioids and other controlled substances.
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27.
In July 2020, the attorney general of the Commonwealth of Kentucky filed a lawsuit against CVS Health alleging that their business practices aided in the advancing of the opioid epidemic.
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