CVS Health Announces Intent to Create Two Distinct Leaders in Healthcare

The separation is expected to be completed in the first half of 2028

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(Woonsocket, RI) - CVS Health today announced that it intends to separate into two independent, publicly traded companies. 

The decision follows a comprehensive strategic review by the CVS Health Board of Directors. 

The planned separation will create two companies:

• A leading healthcare solutions company, comprising Aetna, CVS Caremark, CVS Specialty, Oak Street Health and Signify Health. The healthcare solutions company, in the interim, will be referred to as CVS Health.
• The leading national retail pharmacy and community healthcare company, comprising approximately 9,000 CVS pharmacies, mail pharmacy, MinuteClinic (including virtual care), and the Health100 technology services business. This company will be named CVS Pharmacy.

The healthcare solutions company, CVS Health, will maintain the connections that drive value for clients and members, enabling it to lower costs while improving health outcomes and experiences. This combination of assets will enable it to continue to drive differentiated innovations to address the country’s healthcare needs.

The pharmacy company, CVS Pharmacy, will continue to serve as the most frequent healthcare touchpoint for communities across the nation. As an independent company, CVS Pharmacy will continue to expand the services provided by its nearly 30,000 pharmacists and pursue a wider set of partnerships across the healthcare system, including with payers, pharmacy benefit managers and manufacturers, to better serve the needs of consumers and patients.

The separation is expected to be completed in the first half of 2028.

Until the completion of the separation, CVS Health will continue to operate, compete and serve customers as it does today, and deliver against its financial targets.

CVS Health will provide additional information as the separation process progresses.

The full press release can be found at CVS Health announces intent to create two distinct leaders in healthcare