About CVS Pharmacy
CVS refers to CVS Health Corporation, an American retail pharmacy/healthcare organization that is based in Rhode Island. CVS started in 1964, at which point it was owned by just 3 partners who grew the business out of a parent company: Mark Steven, Inc. This new company initially comprised of a series of health and beauty stores but would grow to include pharmacies.
CVS went on to merge with Caremark Rx in 2007 and today is known as CVS Health. CVS Health enjoyed rapid growth. It now operates over 9,000 stores across the U.S. and has over 200,000 employees nationwide. In 2014, CVS announced that it would be removing all tobacco products from its stores, and in 2015, CVS acquired Omnicare, Inc., for approximately US$12.7 billion, as well as Target Corporation's pharmacy and retail clinic businesses.
While CVS offers a number of products and services, the pharmacy remains its best-known focus and today the company fulfills one in every five prescriptions. Across the US. 76% of the population live within 5 miles of a CVS and their loyalty program, ExtraCare, has over 70 million cardholders. CVS has enjoyed a revenue of US$153 billion. As of 2017, the company ranked seventh on the Fortune 500 list.
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