CVS Health

CVS Health
legal form	Corporation
ISIN	US1266501006
founding	2007
Seat	Woonsocket , Rhode Island , United States
management	Larry Merlo
Number of employees	290,000 (2019)
sales	$ 256.8 billion (2019)
Branch	pharmacy
Website	cvshealth.com
As of December 31, 2019

The CVS Health Corporation (formerly CVS Caremark Corporation , in front of CVS Corporation ) is a retailer of pharmaceutical industry in the United States . The company's headquarters are in Woonsocket , Rhode Island . The company is listed in the S&P 500 . CVS does business under the name CVS / pharmacy, so they are often simply called CVS. With sales of $ 177.5 billion and profits of $ 5.3 billion, CVS Health was the 66th largest company in the world according to Forbes Global 2000 in 2017 . According to the Fortune 500 , it was one of the 20 best-selling companies worldwide in 2016. The company had a market cap of $ 96.7 billion in late 2019. In addition to health products, the CVS stores also offer groceries for everyday needs. However, the shops are much smaller than the typical American supermarkets (e.g. Walmart ). The CVS stores are very similar to the Walgreens stores.

Company history

The company was founded in Lowell, Massachusetts in 1963 under the name Melville Corporation . In 1990 there was a merger with Peoples Drug from Washington, DC The name was changed in 1996 to CVS Corporation . In 1997 CVS had around 1,400 stores and took over another 2,500 stores with its competitor Revco. The acquisition expanded business from the East Coast to the southeastern United States and the Ohio area . Another takeover followed with Arbor Drugs from Michigan and in 2004 CVS bought Eckerd from JCPenney , which resulted in expansion into the Florida and Texas regions . At the beginning of November 2006, CVS announced the merger with the competitor Caremark RX Inc. from Nashville . The name of the group has since been CVS Caremark Corporation and is represented in almost all US states.

On February 5, 2014, the company announced that it would stop selling cigarettes and other tobacco products in all 7600 stores by October 2014. The company expects sales to fall by around two billion US dollars. CEO Larry Merlo justified this step with the principles of the company. The company was renamed CVS Health . In December 2017, CVS Health announced the acquisition of Aetna for $ 69 billion.

A CVS / Pharmacy in Marion, South Carolina

Business and employee development (respective fiscal year)

year	Employees	Sales in billions of US $	Balance sheet profit in billion US $
2010	201,000	95,778	3,427
2011	202,000	107.080	3,462
2012	203,000	123.120	3,864
2013	208,000	126,761	4,600
2014	217,800	139,367	4,645
2015	243,000	153.290	5,230
2016	250,000	177,526	5,320
2017	246,000	184,765	6,631
2018	295,000	194,579	−594
2019	290,000	256,776	6,634

Individual evidence

1. ↑ ^{a b} Accessed July 2, 2019 . 
2. ↑ Annual Report 2019. In: Annual Report 2019. CVS Health, February 18, 2020, accessed July 2, 2020 . 
3. ↑ [1]  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.  
4. ↑ Handelsblatt: CVS and Aetna: Pharmacy chain buys health insurers. Retrieved December 4, 2017 . 
5. ↑ CVS Health Revenue 2006-2019 | CVS. Retrieved April 29, 2020 .