A drugstore chain steps up to fill a health care gap.
In case you missed more subtle signs that CVS, born the Consumer Value Store in 1963, had moved on from its humble discount retail roots, in 2014, it changed its name: The company was christened anew as CVS Health. That may sound like opportunistic corporate rebranding, but for CVS—now the nation’s biggest operator of health clinics and the second largest pharmacy benefits manager—it was apt and even overdue.
Sure, you can still pop in for toilet paper or a pack of chewing gum (if not cigarettes), but while there you can also get your Swimmer’s Ear and sore throat checked out. These in-store “MinuteClinics”—manned by nurse practitioners and physician assistants at some 1,100 CVS stores across the U.S.—provide quick, accessible, affordable medical care and an answer to the nation’s doctor shortage, as well as one of its most frustrating healthcare gaps. The drug store, which started offering the service in 2006, is at 30 million patient visits and counting.
Food & Drug Stores
Larry J. Merlo
|Revenues ($M) (Last Fiscal Year)||$153,290|
|Profits ($M) (Last Fiscal Year)||$5,237|
|Market Value ($M)||$103,540|