Cvs Caremark
CVS Caremark
Overview In our society, many people suffer from ailments and diseases that require medication to help them manage their illnesses while trying to maintain a normal lifestyle. Approximately 75% of the US population lives within three miles of a CVS (Datamonitor,2011), a retail pharmacy which sells prescription drugs and a range of general merchandise including over the counter drugs, beauty products and cosmetics, photo finishing, seasonal merchandise, greeting cards, and convenience foods (Mergent, 2012). Pharmacy services for CVS also include a mail order pharmacy service, specialty pharmacy services, plan design and administration, formulary management and claims processing. CVS also possesses in store health clinics called MinuteClinics.
In 2011, CVS employed approximately 211,000 people in 44 states, the District of Columbia and Puerto Rico. They have 7,025 retail stores, 569 MinuteClinic locations, 49 retail pharmacy stores, 18 mail order pharmacies, 6 mail service pharmacies, CVS.com and Caremark.com websites. Their vision is to improve the quality of human life. They strive to provide expert care and innovative solutions in pharmacy and health care that are effective and easy for their customers. Their strength lies in establishing a strong presence in sectors such as specialty pharmacy and retail clinics.
CVS was established in 1963 in Lowell, Massachusetts by brothers Stanley and Sidney Goldstein along with their partner Ralph Hoagland. CVS is short for Consumer Value Stores. In 1967, CVS opened its first store with a pharmacy department in Rhode Island. During 1969, CVS is sold to Melville Corporation. CVS achieved $100 million in annual sales in 1974. In 1978 CVS sets itself apart from competitors by opening small healthcare and beauty aid stores in enclosed shopping malls. Becoming the 15th largest pharmacy chain in the United States in 1980, CVS possesses 408 stores. Stanley Goldstein, cofounder, takes over as chairman and CEO of
Overview In our society, many people suffer from ailments and diseases that require medication to help them manage their illnesses while trying to maintain a normal lifestyle. Approximately 75% of the US population lives within three miles of a CVS (Datamonitor,2011), a retail pharmacy which sells prescription drugs and a range of general merchandise including over the counter drugs, beauty products and cosmetics, photo finishing, seasonal merchandise, greeting cards, and convenience foods (Mergent, 2012). Pharmacy services for CVS also include a mail order pharmacy service, specialty pharmacy services, plan design and administration, formulary management and claims processing. CVS also possesses in store health clinics called MinuteClinics.
In 2011, CVS employed approximately 211,000 people in 44 states, the District of Columbia and Puerto Rico. They have 7,025 retail stores, 569 MinuteClinic locations, 49 retail pharmacy stores, 18 mail order pharmacies, 6 mail service pharmacies, CVS.com and Caremark.com websites. Their vision is to improve the quality of human life. They strive to provide expert care and innovative solutions in pharmacy and health care that are effective and easy for their customers. Their strength lies in establishing a strong presence in sectors such as specialty pharmacy and retail clinics.
CVS was established in 1963 in Lowell, Massachusetts by brothers Stanley and Sidney Goldstein along with their partner Ralph Hoagland. CVS is short for Consumer Value Stores. In 1967, CVS opened its first store with a pharmacy department in Rhode Island. During 1969, CVS is sold to Melville Corporation. CVS achieved $100 million in annual sales in 1974. In 1978 CVS sets itself apart from competitors by opening small healthcare and beauty aid stores in enclosed shopping malls. Becoming the 15th largest pharmacy chain in the United States in 1980, CVS possesses 408 stores. Stanley Goldstein, cofounder, takes over as chairman and CEO of
References: Brigham & Ehrhardt. (2011). Financial Management: Theory & Practice. Mason, Ohio: Cengage Learning CVS Caremark (2009). Retrieved from http://www.cvs.com Datamonitor (2011) http://www.datamonitor.com Datamonitor (2011) http://www.stocknod.com Mergent (2011) CVS Caremark Corporation