WOONSOCKET, R.I. — Continuing its aggressive growth and diversification, CVS Health has purchased Target Corp.’s pharmacy and clinic businesses for some $1.9 billion. The acquisition propels CVS past Walgreens as the nation’s No. 1 pharmacy operator by market share and store count. CVS will have close to 9,500 prescription counters. Walgreens had 8,232 as of
NEW YORK — CVS Health has unveiled an enhanced front end with a focus on health, beauty and consumables. The upgrade, being rolled out at selected stores starting with 150 high-volume urban outlets, is “the next step in the company’s evolution to better support customers’ health in its retail stores” following its cigarette ban, CVS
WASHINGTON — The Affordable Care Act has survived its second Supreme Court challenge, with a divided court agreeing with the Obama administration that government subsidies that make health insurance affordable for millions of poor and middle-class Americans should be available nationwide. While there are more challenges to come, the organization representing the nation’s traditional drug
BENTONVILLE, Ark. — Walmart will begin charging most of its suppliers new fees for stocking their products in new stores and for storing them in its warehouses. About 91% of Walmart’s suppliers will be affected, according to a company spokeswoman, who notes that some product categories, including adult beverages and produce, will be exempt. The
MINNEAPOLIS — Kathee Tesija is leaving her post as executive vice president and chief merchandising and supply chain officer at Target Corp., moving into an advisory role with the retailer. The company is conducting an external and internal search for Tesija’s replacement, according to Target chairman and chief executive officer Brian Cornell, who said “this
DEERFIELD, Ill. — Walgreen Co. says that its Balance Rewards for healthy choices (BRhc) program, which awards loyalty points for healthy behaviors and activities, is helping members lose weight and driving better medication adherence among participants with hypertension and/or diabetes. According to a new white paper and outcomes data the company released, active members who
CAMP HILL, Pa. — Rite Aid has completed its acquisition of Envision Pharmaceutical Services from private investment firm TPG and other shareholders in a transaction valued at about $2 billion, including about $1.8 billion in cash, and around 27.9 million Rite Aid shares. EnvisionRx will operate as a wholly owned subsidiary of Rite Aid under
BOSTON — CVS Health has officially opened its Digital Innovation Lab, a facility focused on developing cutting-edge services and personalized capabilities for an accessible and integrated pharmacy and health experience. The lab will be a hub for the company’s rapidly growing digital team. “The work we are doing here is not only cool — and
FLINT, Mich. — Diplomat Pharmacy Inc. has acquired Burman’s Specialty Pharmacy in an $82.8 million deal. Burman’s, based in Pennsylvania, is a provider of individualized patient care with a primary focus on hepatitis C. “Burman’s shares our strong commitment to patient care,” said Diplomat chairman and chief executive officer Phil Hagerman. “We acquired Burman’s to
WOONSOCKET, R.I. — CVS Health has hired Norman de Greve as its chief marketing officer, effective July 15. De Greve joins CVS from DigitasLBi, where for the past year he served as head of the company’s Boston-Detroit region. DigitasLBi bills itself as “a global marketing and technology agency that transforms businesses for the digital age.”
SAN FRANCISCO — Kathy McElligott has been appointed executive vice president and chief information officer (CIO) and chief technology officer (CTO) at McKesson Corp. She comes to McKesson from Emerson, where she served as CIO since 2010 and managed Emerson’s information technology strategy and information security for its global operations. McElligott succeeds Randy Spratt, who
It was a very productive spring for CVS Health. Already performing at a level that made it the envy of most other retailers and health care providers, the company took a series of steps in May and June that will increase its chances of success in several burgeoning sectors of the marketplace. The biggest news
CVS’ announced intention to buy Target’s pharmacy and immediate care clinic businesses has stunned a mass retailing community already subject to numerous shocks this year. To recap briefly, mass retailing has seen new alliances, new executive appointments and promotions, bold new ventures, and a newly revised view of the mass retailing community based on a