CVS Health
CVS Health (formerly CVS Caremark Corporation) is an American retailer and health care company. CVS Health operates over 7,800 CVS Pharmacy, Longs Drugs and Navarro Discount Pharmacies stores; a pharmacy benefit manager, mail order and specialty pharmacies, a retail-based health clinic subsidiary, MinuteClinic; and an online pharmacy, CVS.com. CVS Health is chartered in Delaware, and is headquartered in Woonsocket, Rhode Island, where its four business units are also headquartered. As of 2014, it ranked 35th in the Fortune Global 500 list of the world's largest companies, and 10th in the United States-only Fortune 500.
Background
CVS Health has four operating segments: CVS/pharmacy, CVS/caremark, CVS/specialty and CVS/minuteclinic which operates within CVS/pharmacy stores.
History
According to the International Directory of Company Histories,
By 2001 CVS' specialty pharmacy ProCare was the "largest integrated retail/mail provider of specialty pharmacy services" in the United States. It was consolidated with their pharmacy benefit management company, PharmaCare in 2002. In their 2001 annual report CVS anticipated that the "$16 billion specialty pharmacy market" would grow at "an even faster rate than traditional pharmacy due in large part to the robust pipeline of biotechnology drugs." By 2014 CVS Caremark, Express Scripts and Walgreens represented more than 50% of the specialty drug market in the United States.