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CVS Caremark

CVS Caremark
Company nameCVS Caremark Corporation
Company typePublic (NYSE: CVS)
S&P 500 Component|
SloganFor All The Ways You Care
Founded2007 through merger of CVS/pharmacy and Caremark
HeadquartersWoonsocket, Rhode Island, U.S.
Key peopleThomas Ryan - Chairman
ProductsRetail - Pharmacy, Pharmacy Benefit Management
Revenue(+)$98.729 billion USD (2009)
Operating income(+)$6.438 billion USD (2009)
Net income(+)$3.696 billion USD (2009)
Employees200,000 (2009)

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CVS Caremark Corporation (Nyse - CVS) is an integrated pharmacy services provider, combining a United States pharmaceutical services company with a U.S. pharmacy chain. CVS Caremark provides pharmacy services through its over 7,000 CVS/pharmacy and Longs Drugs stores; its pharmacy benefit management, mail order and specialty pharmacy division, Caremark Pharmacy Services; its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, CVS Caremark Corporation is chartered in Delaware, and is headquartered in Woonsocket, Rhode Island, where its pharmacy business is also headquartered. The pharmacy services business is headquartered in Nashville, Tennessee. The company was #18 in the 2010 Fortune 500 list of the largest companies in the U.S., and is the largest company that has operations solely in the United States.

CVS Caremark has three operating segments: CVS/pharmacy, Caremark Pharmacy Services, and MinuteClinic, a walk in clinic that operates within CVS Pharmacy stores.

*CVS/pharmacy is one of the nation's largest retail pharmacy chains, with over 7,000 stores across 41 states. With more than 40 years in the retail pharmacy industry, CVS/pharmacy generates over 68% of its revenue from the pharmacy business. CVS/pharmacy fills more than one of every seven retail prescriptions in America, and one of every five in their own markets. Their ExtraCare program boasts over 65 million cardholders, making it the largest retail loyalty program in the country.

*Caremark Pharmacy Services, one of the nation's leading pharmacy benefit management (PBM) companies, provides comprehensive prescription benefit management services to over 2,000 health plans, including corporations, managed care organizations, insurance companies, unions and government entities. With net revenue of approximately $37 billion (including approximately $5.8 billion of retail copayments) in 2006, they are also one of the largest PBMs. Caremark operates a national retail pharmacy network with over 60,000 participating pharmacies, as well as 11 mail service pharmacies. Its call centers have been recognized for customer satisfaction excellence by J.D. Power & Associates (J.D. Power & Associates is also a client of Caremark). Caremark operates over 70 specialty pharmacies, and its specialty pharmacies have been accredited by the Joint Commission. Its disease management programs through Accordant(R) have also been accredited by the National Committee for Quality Assurance.

*MinuteClinic is the nation's largest walk-in medical clinic, with 570 locations in 25 states.

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