WELCOME

"We are pleased to announce a deal to bring CVS

Feb. 10, 2018 by Devin Jones

"We are pleased to announce a deal to bring CVS to you with its latest expansion initiative," said Jim K. Ricks, chief executive officer and founder of CVS. "Our customers are extremely excited about this merger and appreciate that this partnership is a huge step in the right direction to bring CVS HealthCare to the same level of efficiency as its competitors. We are confident that this is a step in the right direction for the CVS brand and we look forward to seeing your business grow and growing."

The deal is expected to close in the next few weeks.

CVS said the merger "will provide CVS's leading healthcare brand with a comprehensive plan that will be optimized for the needs of our customers, the community, and the physician-patient relationship."

[Why a new CVS pharmacy could become a health care powerhouse]

"CVS HealthCare is a leader in technology and innovation with a focus on innovation by helping the healthcare system achieve value and deliver value to its customers," said John E. C. Caffrey Jr., CVS's president and chief executive officer. "CVS has been a leader in the innovation of our approach to provide high-quality healthcare coverage to our patients and physicians. We are excited to bring CVS HealthCare to your customers with our new initiative to deliver an unparalleled suite of innovative premium and preventive service programs and services to their patients to enable them to access health care that is better for them, their families, and their communities."

CVS HealthCare has grown into a major player in the health care industry, with over $5 billion in the bank. According to data provided by Avalere Health, the combined company earned $3.4 billion in 2016, a 10 percent increase from $3.4 billion in 2015.

The new deal also means that CVS will not be able to be the primary insurer for all its medical needs. The company will still be in charge of its own internal health care operations, which will be overseen by its Chief Executive Officer, Robert H. Caffrey Jr., who is also the board chair of the AmeriCorps Healthcare Inc. board of directors.

The deal also strengthens the company's position as an issuer of consumer-care services, which includes, among other things, health insurance for prescription drugs, prescription and non-prescription branded medical products, and preventive services. CVS plans to be part of the largest multi-health care provider in the United States, the CVS HealthCare Corporation