What the CVS Acquisition of Target’s Pharmacy Business Means

As Target continues to recover from its 2013 data breach, CVS has stepped in and purchased the retail chains’ clinical business, which includes over 1,600 pharmacies in 47 states. These in-store locations will be rebranded “CVS/pharmacy,” and the eighty walk-in locations will be named “CVS MinuteClinics.” The company intends to open twenty additional MinuteClinics over the next three years, bringing the total locations to 1,500 by 2017.

While Target’s expansion plan into Canada failed, resulting in 133 stores closing this past spring, CVS continues to demonstrate its growth in the pharmaceutical field. President Larry Merlo states “when we introduced the new name for our company, CVS Health, we began a new era of growth with a broader healthcare focus and an appreciation of the rise of healthcare consumerism with consumer choice and accountability growing.”

Written by Chris D'Arrigo

Christopher D’Arrigo currently works as a Financial Operations Manager for Blackboard, Inc. in Doylestown, PA, and is a contributor to Medical Groups. Chris graduated from Saint Joseph’s University with a focus in Accounting and enjoys studying the financial trends and technological developments of the healthcare industry.