CVS Health
American healthcare company
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| 2024 | CVS Health committed to investing nearly $35 million in two affordable housing developments in Hawai'i, including $17.5 million for 200 new units in Lahaina, Maui, and $17.3 million for 169 new units in Kapolei, Oahu, in partnership with The Kobayashi Group, The Ahe Group, and CREA, LLC. |
| December 18 2024 | The United States Department of Justice filed a lawsuit against CVS, alleging the pharmacy filled thousands of prescriptions carelessly and potentially contributing to thousands of wrongful deaths by prioritizing profits over proper prescription verification. |
| October 18 2024 | David Joyner, previously overseeing Caremark, replaced Karen Lynch as CEO of CVS Pharmacy. |
| February 5 2024 | CVS Pharmacy announced the sale of its stores in Puerto Rico to Caribe Pharmacy Holdings, which operates the Farmacias Caridad chain. |
| January 2024 | CVS announced the closure of some Target pharmacy locations between February and April, citing population shifts and changing consumer needs. |
| 2023 | CVS Health was ranked 64th in the Forbes Global 2000 list, reflecting its significant position in the global healthcare market. |
| October 2023 | CVS Pharmacy mistakenly provided misoprostol (an abortion pill) to Tamika Thomas during an IVF treatment, causing her to lose two embryos. The incident resulted in two pharmacists being fined and placed on one-year probation, with CVS Pharmacy receiving a maximum fine of $10,000. |
| February 8 2023 | CVS Health announced a definitive agreement to acquire Oak Street Health in an all-cash transaction at $39 per share, representing an enterprise value of approximately $10.6 billion. |
| January 2023 | CVS announced plans to dispense mifepristone, a medication abortion drug, following FDA regulation changes. The decision sparked significant political controversy and protests at pharmacy locations. |
| 2022 | CVS agreed to pay approximately $5 billion over 10 years to settle thousands of claims by state, local, and Native American tribal governments related to prescription practices, without admitting wrongdoing. |
| 2022 | The Austin, Texas CVS location moved to a new site. |
| 2022 | CVS Health reached its peak revenue of $322,467 million, though net income decreased to $4,165 million, with store count slightly reducing to 9,674. |
| September 2022 | CVS Health announced an agreement to buy at-home health company Signify Health for approximately $8 billion, following a plan to move into primary care. |
| August 2022 | A Cleveland judge ordered CVS, Walgreens, and Walmart to pay $650 million in damages in a lawsuit brought by Lake County and Trumbull County in Ohio over opioid sales. The counties' lawyers claimed total damages of $3.3 billion. |
| December 2 2021 | CVS Health announced a strategic partnership with Microsoft to improve personalized care and digital health. |
| November 23 2021 | A federal jury found that CVS, along with Walgreens and Walmart, 'had substantially contributed to' the opioid crisis. |
| November 18 2021 | CVS Health announced plans to close 900 stores nationwide over the next three years, representing approximately 10 percent of U.S. stores, due to changes in consumer shopping behavior, population, and healthcare needs. |
| 2020 | Massachusetts CVS stores were found to have lost controlled substances at a rate several times higher than other pharmacy chains. |
| 2020 | CVS closed an additional 22 stores and announced further store closures. |
| 2020 | During the COVID-19 pandemic, CVS Health maintained stable operations with 300,000 employees and 9,962 stores, reporting a net income of $7,179 million. |
| July 2020 | The Attorney General of Kentucky filed a lawsuit against CVS, alleging that the company's business practices contributed to advancing the opioid epidemic. |
| May 2020 | CVS Health partnered with New York Governor Andrew Cuomo to conduct COVID-19 testing at over 60 CVS pharmacies, with plans to process up to 1.5 million tests monthly. |
| February 2020 | CVS Health announced changes to its board of directors, reducing the board size from 16 to 13 directors. |
| 2019 | CVS announced the closure of 46 'underperforming stores'. |
| 2019 | CVS Health saw a major revenue jump to $256,776 million, marking a significant financial milestone in the company's history. |
| July 2019 | The Stiefel Freethought Foundation contributed an additional $150,000 to support the ongoing lawsuit against CVS and Walmart regarding homeopathic medicine sales. |
| June 4 2019 | CVS Health announces expansion of HealthHUB store concept to 1,500 locations by end of 2021, dedicating at least 20% of floor space to health services like yoga classes and expanded health assessments. |
| 2018 | CVS was fined $1.5 million for failing to report controlled substance losses from New York pharmacies. |
| 2018 | CVS Health experienced a notable financial anomaly, reporting a negative net income of $-594 million, breaking its consistent positive earnings trend. |
| November 2018 | CVS Health acquired Aetna, a major health insurance provider, significantly expanding its healthcare services and vertical integration. |
| November 2018 | CEO Larry Merlo announces plans to renovate stores to focus more on healthcare services following the merger with Aetna. |
| July 2018 | The Center for Inquiry (CFI) filed a lawsuit against CVS Health for consumer fraud, challenging the company's sale of homeopathic medicines. The lawsuit argued that these alternative treatments are not only a waste of money but could potentially lead to worsened health outcomes, prolonged symptoms, and in extreme cases, could result in death. |
| 2017 | CVS was fined $5 million by the federal government for controlled substance losses and violations in California pharmacies. |
| 2017 | CVS announces plans to install 25 vending machines in high-traffic areas like bus terminals, airports, and college campuses, with initial locations at LaGuardia Airport and Boston's South Station Bus Terminal. |
| December 5 2017 | The Wall Street Journal reports a pending $69 billion deal between CVS and Aetna, with CVS CEO Larry Merlo expected to run the combined company. |
| September 2016 | Massachusetts Attorney General Maura Healey announced a $795,000 settlement with CVS, requiring the company to check a state database before filling prescriptions for addictive opioids and other controlled substances, resolving allegations of failing to provide pharmacists access to the state's Prescription Monitoring Program. |
| 2015 | CVS Health significantly expanded its operations, with store count increasing to 9,681 and employee count reaching 243,000, representing substantial growth in market presence. |
| 2015 | CVS Health acquires Target Corporation's 1,600+ pharmacies and retail medical clinics inside Target stores, operating them through a store-within-a-store format. |
| August 2015 | CVS Health acquired Omnicare, a pharmacy services provider for long-term care facilities in North America, making it a wholly owned subsidiary of CVS Health Corporation. |
| August 2015 | CVS Health acquired Coram, a major provider of infusion services, expanding its healthcare service network with a subsidiary that serves 140,000 patients annually through over 85 locations nationwide. |
| 2014 | CVS Caremark acquires Coram, the specialty infusion services and enteral nutrition business unit of Apria Healthcare Group Inc. |
| October 25 2014 | CVS Health temporarily disabled NFC payments, preventing customers from using Apple Pay or Google Wallet, in a strategic move related to the MCX payment system. |
| October 1 2014 | CVS completed the removal of all tobacco and cigarette products from their store shelves, becoming the first national pharmacy chain to take such a comprehensive action to support public health. |
| September 2014 | CVS Health acquired Navarro Discount Pharmacies, integrating the pharmacy chain into its corporate portfolio while maintaining it as a separate brand. The acquisition expanded CVS Health's presence in the Miami-Dade and Broward Counties regions of Florida. |
| September 3 2014 | CVS announces it will stop selling tobacco products at all 7,700 locations, and changes its corporate name to CVS Health to reflect a broader healthcare commitment. |
| February 5 2014 | CVS announced the decision to discontinue selling all tobacco and cigarette products from their stores by October 1, 2014, with CEO Larry J. Merlo stating that cigarettes are incompatible with their healthcare mission. |
| 2012 | CVS Caremark received 59 percent of Rhode Island's tax credits, marking a significant financial milestone for the company. |
| January 12 2012 | CVS Caremark paid $5 million to settle Federal Trade Commission charges of misrepresenting prices of Medicare Part D prescription drugs at CVS and Walgreens pharmacies, including drugs for breast cancer symptoms and epilepsy treatment. |
| 2011 | Larry Merlo succeeds Tom Ryan as president and CEO of CVS Caremark, having joined CVS/pharmacy in 1990 through the acquisition of Peoples Drug. |
| 2011 | CVS pharmacies in Sanford were found to have ordered enough painkillers to supply a population eight times the city's actual size of 53,000 people. |
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