CVS Health Corporation (previously CVS Corporation and CVS Caremark Corporation) is an American healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands. The company is the world's largest healthcare company, and its headquarters are in Woonsocket, Rhode Island. Consumer Value Stores (CVS) was founded in 1963 by three partners - brothers Stanley and Sidney Goldstein and Ralph Hoagland - in Lowell, Massachusetts. They grew the venture from a parent company, Mark Steven, Inc., which helped retailers manage their health and beauty aid product lines. The business began as a chain of health and beauty aid stores, but within several years, pharmacies were added. After two years of operations, it was able to open 17 stores. To expand, the company joined the Melville Corporation, which managed a string of retail businesses. Following a period of growth in the 1980s and 1990s, CVS Corporation spun off from Melville in 1996, becoming a standalone company trading on the New York Stock Exchange as CVS. In December 2017, CVS agreed to acquire Aetna for $69 billion and completed the acquisition in November 2018. Legal issues related to the merger were resolved in September 2019. In February 2020, CVS Health announced changes to its board of directors, whose size was reduced from 16 to 13 directors. More information...
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