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  • Rank30
  • Previous Rank35
  • CEO
    Larry J. Merlo
  • Address
    1 CVS Dr., Woonsocket, RI 02895
  • Website
  • Industry
    Food and Drug Stores

CVS Health is betting big on the future of health care in the U.S. The company is already the biggest retailer of prescription drugs and the second-largest pharmacy benefits manager in the U.S.–and is expanding its reach to become a fully integrated provider of health services. That became especially apparent in May with its $12.7 billion purchase of Omnicare, a drug delivery company that also helps senior-living centers manage residents’ medications. The purchase, its largest since 2007 when it paid $21.7 billion for pharmacy benefits manager Caremark Rx, gives the retailer greater strategic reach as it looks to serve an aging population with greater care needs. The Omnicare deal builds on a grander shift managed by CEO Larry Merlo, transforming the drug store chain into a full-service health management company. Within the last year, the company swept cigarettes off its shelves, changed its name to CVS Health from CVS Caremark and made plans to expand its in-store health clinics by about 600 locations by 2017. The moves position CVS Health, which operates about 7,700 retail pharmacies and 900 walk-in clinics, as an equipped provider for patients.

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Company Information

Larry J. Merlo
Food and Drug Stores
Food & Drug Stores
HQ Location
Woonsocket, RI
Years on List20
Changed name from CVS Caremark, Sept. 3, 2014.

Key Financials (last fiscal year)

($ Millions)% change

Profits as a % of

Profit as % of Revenues3.3%
Profits as % of Assets6.3%
Profits as % of Stockholder Equity12.2%