CVS/Caremark is the largest provider of prescriptions and health care related services in the nation. With approximately 6, 300 stores across the U.S, CVS Caremark hold a big presence in retail. The company prides its self on effectively managing costs and improving health care outcomes, mail order, specialty pharmacy divisions, Caremark Pharmacy services, minute clinic, online pharmacy, and the retail based health clinic subsidiary.

History

1963

The first CVS store was founded in Lowell, Mass. by brothers Stanley and Sidney Goldstein and partner Ralph Hoagland. CVS stands for Consumer Value Stores.

1967

CVS begins operation of its first stores with pharmacy departments, opening locations in Warwick and Cumberland, Rhode Island.

1969

CVS is sold to Melville Corporation.

1985

Baxter taps its expertise in healthcare cost management to begin providing prescription benefit management services. As a division of Baxter, Caremark launches Mail Service Pharmacy, IGIV Home Care Services, and Growth Hormone Distribution and Services. 

 

 

1988

CVS/pharmacy celebrates its 25th anniversary, finishing the year with nearly 750 stores and sales of about $1.6 billion.

1992

Caremark spins off from Baxter. The Caremark Formulary is developed and Clinical Intervention Programs are introduced.

1997

CVS completes its acquisitions of more than 2,500 stores from Revco and becomes the largest acquisition in the history of the U.S. retail industry.

2000

Rick Krieger and partners Douglas Smith, M.D., Steve Pontius and Kevin Smith, RN, FNP founded QuickMedx (the retail health care centers that became MinuteClinic).

2007

CVS Corporation and Caremark Rx, Inc. complete their transformative merger, creating CVS Caremark, the nation’s premier integrated pharmacy services provider.

2008

CVS Caremark marks the first anniversary of its successful, transformational merger as the largest integrated provider of prescriptions and health-related services in the nation on March 24.

 

 

 

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