CVS/pharmacy or CVS
Type	Subsidiary of CVS/Caremark Corporation
Founded	1963
Headquarters	Woonsocket, Rhode Island
Products	Retail - Pharmacy
Revenue	$37.006 billion USD (2005)
Operating income	$2.019 billion USD (2005)
Net income	$1.210 billion USD (2005)
Employees	80,000 (2005)
Website	www.cvs.com

CVS/pharmacy is a pharmacy and convenience store chain in the United States. CVS is also the largest pharmacy chain in the United States, based on the number of stores. Image File history File links CVS_Logo. ... In business, a subsidiary is a company controlled by another company or corporation. ... CVS/Caremark Corporation, NYSE: CVS is the nations premier integrated pharmacy services provider, combining one of the nations leading pharmaceutical services companies with the country’s largest pharmacy chain. ... 1963 (MCMLXIII) was a common year starting on Tuesday (the link is to a full 1963 calendar). ... Woonsocket is a city in Providence County, Rhode Island, United States. ... Drawing of a self-service store. ... For other uses, see Pharmacy (disambiguation). ... Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ... Image File history File links No higher resolution available. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, Cambodia, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 2. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Earnings before interest and taxes (EBIT), also known as operating income and operating profit, is a term used to describe a companys earnings. ... Image File history File links No higher resolution available. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, Cambodia, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 2. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... Image File history File links No higher resolution available. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, Cambodia, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 2. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... For the album by the Kaiser Chiefs see Employment (album) Employment is a contract between two parties, one being the employer and the other being the employee. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... A website (or Web site) is a collection of web pages, images, videos and other digital assets and hosted on a particular domain or subdomain on the World Wide Web. ... For other uses, see Pharmacy (disambiguation). ... This article or section does not cite its references or sources. ... Chain stores are a range of retail outlets which share a brand and central management, usually with standardised business methods and practices. ... For other uses, see Pharmacy (disambiguation). ... Chain stores are a range of retail outlets which share a brand and central management, usually with standardised business methods and practices. ...

CVS operates stores under the name of CVS/pharmacy, though these are often simply called CVS. It also operates a specialty drugs and benefits management division called Pharmacare. Recently, they acquired MinuteClinic as a wholely-owned subsidiary. It operates basic-care clinics, staffed by Nurse-Practitioners and Physician Assistants. Most of these clinics are in CVS stores.

While CVS is incorporated in Delaware, and is based in Woonsocket, Rhode Island, it was founded in Lowell, Massachusetts in 1963. CVS's chief competitor, Walgreens, has fewer stores, but generates higher sales than CVS. Woonsocket is a city in Providence County, Rhode Island, United States. ...   The Boott Mill complex now converted to a museum. ... 1963 (MCMLXIII) was a common year starting on Tuesday (the link is to a full 1963 calendar). ... Walgreen Co. ...

CVS Corporation merged with Caremark RX in March of 2007. The new company is called CVS/Caremark Corporation and it is headquartered in Woonsocket, Rhode Island. Caremark Pharmacy Services, formerly known as Caremark Rx, was founded in 1993 in Birmingham, Alabama as MedPartners, Inc. ... March is the third month of the year in the Gregorian Calendar and one of seven Gregorian months with the length of 31 days. ... 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the Anno Domini era. ... CVS/Caremark Corporation, NYSE: CVS is the nations premier integrated pharmacy services provider, combining one of the nations leading pharmaceutical services companies with the country’s largest pharmacy chain. ... Woonsocket is a city located in Providence County, Rhode Island. ... This article is about the U.S. State. ...

Name

CVS Corporation used to be a subsidiary of Melville Corporation until Melville changed its name to CVS in 1996. Melville Corporation, formerly based in Rye, New York, was a large retail holding corporation incorporated in 1922 as the Melville Shoe company by Ward Melville. ...

The acronym once stood for "Consumer Value Stores," but CEO Tom Ryan has said he now considers it to stand for "Customers, Value, and Service." Thomas M. Ryan is the current President, CEO and Chairman of CVS Corporation (And will reportedly by the President and CEO of the post-merger CVS/Caremark). ...

During the company's days as a regional chain in the Northeastern U.S., many of CVS's stores did not include pharmacies. These stores were simply called "CVS," while the ones with pharmacies were called "CVS/pharmacy." Today, the company no longer builds new stores without pharmacies, and is gradually phasing out the old convenience store-type shops that remain in New England, New York, Washington, D.C., and shopping malls. This article or section does not cite its references or sources. ... This article is about the region in the United States of America. ... NY redirects here. ... Nickname: Motto: Justitia Omnibus (=Justice for All) Location of Washington, D.C., in relation to the states Maryland and Virginia Coordinates: Country United States Federal District District of Columbia Government  - Mayor Adrian M. Fenty (D)  - City Council Chairperson: Vincent C. Gray (D) Ward 1: Jim Graham (D) Ward 2: Jack...

Acquisitions and growth

One of two urban CVS stores in Atlanta, Georgia.

A CVS/pharmacy (Store #6240) in Southside Place, Texas that was formerly an Eckerd.

• In 1964, CVS had 17 stores that sell primarily health and beauty products.

• In 1967, CVS began operation of its first stores with pharmacy departments, opening locations in Warwick and Cumberland, RI.

• By 1970, CVS operated 100 stores in New England and the Northeast.

• In 1972, CVS nearly doubled in size with its acquisition of 84 Clinton Drug and Discount Stores. The purchase introduced CVS to the Midwest with stores in Indiana.

• In 1977, CVS acquired the 36-store New Jersey-based Mack Drug chain.

• In 1980, CVS became the 15th largest pharmacy chain in the U.S. with 408 stores and $414 million in sales.

• In 1988, CVS celebrated its 25th anniversary, finishing the year with nearly 750 stores and sales of about $1.6 billion.

• In 1990, CVS acquired the 500-store Peoples Drug chain, which established the company in new mid-Atlantic markets including Washington, D.C., Pennsylvania, Maryland, and Virginia. The newly acquired stores were converted to CVS stores.

• In 1993, CVS withdraws from the Southern California market.

• In 1994, CVS launched PharmaCare, a pharmacy benefit management (PBM) company providing a wide range of services to employers, managed care organizations, insurance companies, unions, and government agencies.

• Until 1996, CVS was a division of Melville Corporation. During that year, Melville divested its other subsidiary retail chains, which included Linens 'N Things, KB Toys, and Marshalls, and changed its name to CVS Corporation. Formerly traded as MVL on the New York Stock Exchange, the company now trades under the symbol CVS.

• In 1997, CVS more than doubled its 1,400 stores after purchasing the 2,500-store Revco chain. The acquisition brought CVS into the Ohio Valley and Southeastern U.S.; previously, the company's footprint had not been south of Washington, D.C.. CVS was able to afford so large a purchase because of its recent Melville divesture.

• Also in 1997, CVS ProCare was established as a specialty pharmacy subsidiary of CVS.

• In 1998, CVS acquired 207 stores from Arbor Drugs, bringing its store total to 4,100 across 24 states. The transaction gave CVS its first stores in Michigan and an instant lead in the highly competitive Detroit market.

• In 1999, CVS acquired Soma.com, the first online pharmacy, and renamed it CVS.com. This allowed CVS to become the first fully-integrated online and brick-and-mortar pharmacy.

• In 2000, CVS acquired Stadtlander pharmacy, making CVS ProCare the largest specialty pharmacy in the U.S.

• In 2004, CVS purchased 1,268 Eckerd drug stores, as well as Eckerd Health Services, a PBM/Mail-order pharmacy business, from J.C. Penney. Most of the former Eckerd stores, which were converted to CVS stores by June, are located in Florida and Texas. Because J.C. Penney credit cards were accepted at Eckerd locations, CVS continues to accept them as well.

• Also in 2004, CVS ProCare became part of PharmaCare, and all ProCare stores were re-branded as PharmaCare.

• On January 23, 2006, CVS announced that it had agreed to acquire the freestanding drug store operations of supermarket chain Albertsons. The deal included the acquisition of 700 drug stores trading under the Osco Drug and Sav-On Drugs banners, mostly in the Midwest and Southwestern United States with primary concentration of stores in Southern California and Chicagoland; and was formally completed on June 2, 2006. Transition of Sav-On and Osco stores to the CVS brand began shortly thereafter, and was completed by December 2006. CVS now dominates the Southern California market. Also included were Albertsons Health'n'Home (now CVS Home Health) durable medical equipment stores. Approximately 28 CVS Home Health locations are present in Arizona, California and the Kansas City area; representing CVS's first venture into the specialized DME market.

CVS had previously operated stores in southern California, but completely withdrew from the market in 1993. CVS sold virtually all of the locations to Sav-On's then owner American Stores, who operated them under the name American Drug Stores. As a result, many of the stores CVS gained in January 2006 had been the stores it owned prior to 1993. Before their re-acquisition, the stores were operated under the name Sav-On Express (the Express name was used to help customers identify those stores that did not carry all the lines of merchandise as compared to the larger, traditional Sav-On Drugs locations). CVS now operates over 6,200 stores in 43 states and the District of Columbia. [1]

• On July 13, 2006, CVS announced that it had entered into a definitive agreement to acquire Minneapolis-based MinuteClinic, the pioneer and largest provider of retail-based health clinics in the U.S. MinuteClinic operates as a wholly-owned subsidiary of CVS Corporation. MinuteClinic health care centers are staffed by board-certified nurse practitioners and physician assistants who are trained to diagnose and treat common family illnesses such as strep throat and ear, eye, sinus, bladder and bronchial infections, and provide prescriptions when clinically appropriate. MinuteClinic also offers common vaccinations, such as flu shots, tetanus, and Hepatitis A & B. The clinics are supported by physicians who collaborate with the nurse practitioners to assure the highest quality of care. As of December 14, 2006, there are 136 MinuteClinics in 18 states, most of which are within CVS/pharmacy locations.

• On November 1, 2006, CVS announced that it was entering into a merger agreement with Nashville-based Caremark Rx Inc., a pharmacy benefits manager. The new company is called CVS/Caremark Corp. and the corporate headquarters remains in Woonsocket, RI. The new pharmacy services business, including the combined pharmacy benefits management (PBM), specialty pharmacy, and disease management businesses, is headquartered in Nashville, TN. The new CVS/Caremark Corporation is expected to achieve about $75 billion in yearly revenue for 2007. The merger was formally completed on March 22, 2007. Tom Ryan, CVS's Chairman and CEO, remains president and CEO of the combined company, while Caremark's President and CEO, Mac Crawford, is Chairman of the Board.

Image File history File linksMetadata Download high-resolution version (2592x1944, 863 KB) I, the creator of this work, hereby grant the permission to copy, distribute and/or modify this document under the terms of the GNU Free Documentation License, Version 1. ... Image File history File linksMetadata Download high-resolution version (2592x1944, 863 KB) I, the creator of this work, hereby grant the permission to copy, distribute and/or modify this document under the terms of the GNU Free Documentation License, Version 1. ... Hotlanta redirects here. ... Image File history File linksMetadata Download high-resolution version (2272x1704, 858 KB) Taken by WhisperToMe I, the creator of this work, hereby release it into the public domain. ... Image File history File linksMetadata Download high-resolution version (2272x1704, 858 KB) Taken by WhisperToMe I, the creator of this work, hereby release it into the public domain. ... Southside Place is a city located in Harris County, Texas. ... Eckerd is a drug store chain with more than 1,549 stores in more than 13 states across the Mid-Atlantic and New England portions of the United States. ... 1964 (MCMLXIV) was a leap year starting on Wednesday (the link is to a full 1964 calendar). ... 1967 (MCMLXVII) was a common year starting on Sunday of the Gregorian calendar (the link is to a full 1967 calendar). ... 1970 (MCMLXX) was a common year starting on Thursday. ... 1972 (MCMLXXII) was a leap year starting on Saturday. ... For the album by Ash, see 1977 (album). ... 1980 (MCMLXXX) was a leap year starting on Tuesday. ... 1988 (MCMLXXXVIII) was a leap year starting on Friday of the Gregorian calendar. ... MCMXC redirects here; for the Enigma album, see MCMXC a. ... This article or section needs to be wikified. ... 1993 (MCMXCIII) was a common year starting on Friday of the Gregorian calendar and marked the Beginning of the International Decade to Combat Racism and Racial Discrimination (1993-2003). ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by United Nations. ... 1996 (MCMXCVI) was a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... Melville Corporation, formerly based in Rye, New York, was a large retail holding corporation incorporated in 1922 as the Melville Shoe company by Ward Melville. ... ... KB Toys (originally known as Kay Bee Toys) is a chain of mall-based retail toy stores in the United States. ... Marshalls, Inc. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ... Revco Discount Drug Stores (known simply as Revco or Revco, D.S.), once based in Twinsburg, Ohio, was a major drug store chain operating through the Ohio Valley, the Mid-Atlantic states, and the Southeastern United States. ... Carl D. Perkins Bridge in Portsmouth, Ohio with Ohio River and Scioto River tributary on right. ... Regional definitions vary from source to source. ... Nickname: Motto: Justitia Omnibus (=Justice for All) Location of Washington, D.C., in relation to the states Maryland and Virginia Coordinates: Country United States Federal District District of Columbia Government  - Mayor Adrian M. Fenty (D)  - City Council Chairperson: Vincent C. Gray (D) Ward 1: Jim Graham (D) Ward 2: Jack... 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ... 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean [1]. // Coated in ice, power and telephone lines sag and often break, resulting in power outages. ... Arbor Drugs was a chain of drug stores based in Troy, Michigan. ... 1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ... There are very few or no other articles that link to this one. ... 2000 (MM) was a leap year starting on Saturday of the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Eckerd is a drug store chain with more than 1,549 stores in more than 13 states across the Mid-Atlantic and New England portions of the United States. ... This article is about the department store chain. ... This article is about the U.S. State. ... Official language(s) No Official Language See languages of Texas Capital Austin Largest city Houston Area  Ranked 2nd  - Total 261,797 sq mi (678,051 km²)  - Width 773 miles (1,244 km)  - Length 790 miles (1,270 km)  - % water 2. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... January 23 is the 23rd day of the year in the Gregorian calendar. ... For the Manfred Mann album, see 2006 (album). ... A typical Albertsons store. ... Osco Drug is a chain pharmacy acquired by The Jewel Companies, Inc. ... Osco Drug is a chain pharmacy acquired by Jewel Tea and owned by Albertsons. ... June 2 is the 153rd day of the year in the Gregorian calendar (154th in leap years), with 212 days remaining. ... For the Manfred Mann album, see 2006 (album). ... Look up December in Wiktionary, the free dictionary. ... For the Manfred Mann album, see 2006 (album). ... A typical Albertsons store. ... American Stores was the name of a United States chain of supermarkets. ... ... For the Manfred Mann album, see 2006 (album). ... For the Manfred Mann album, see 2006 (album). ... For the Manfred Mann album, see 2006 (album). ... 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the Anno Domini era. ...

Private label

CVS has an extensive assortment of various private labels and proprietary brands. In addition to CVS Brand, CVS also carries exclusive store brands under the names of Essence of Beauty, Gold Emblem, and Life Fitness. CVS also holds exclusive contracts to sell propriety brands such as Nuprin, Christophe, PreVentin-AT, Skin Effects, and the Scandinavian brand Lumene. A new exclusive Playskool line of baby care is also in CVS stores. CVS was also first to sell single-use digital cameras and camcorders from Pure Digital. Playskool is a toy brand owned by Hasbro. ...

Controversies

A CVS location (#7606) in Austin, Texas, across from the University of Texas at Austin

Image File history File linksMetadata Download high-resolution version (2272x1704, 870 KB) Taken by WhisperToMe I, the creator of this work, hereby release it into the public domain. ... Image File history File linksMetadata Download high-resolution version (2272x1704, 870 KB) Taken by WhisperToMe I, the creator of this work, hereby release it into the public domain. ... Nickname: Live Music Capital of the World Location in the state of Texas Coordinates: Country United States State Texas Counties Travis County, Williamson County Government  - Mayor Will Wynn Area  - City  296. ... The University of Texas at Austin, often called UT or Texas, is a doctoral/research university located in Austin, Texas. ...

Elensys

In 1998, the Washington Post reported that CVS appeared to be sharing prescription drug information with the Woburn-based marketing company, Elensys. According to the Post, Elensys received information on specific prescription drugs that individual CVS customers had purchased and used this information to send targeted direct mailings urging customers to renew prescriptions and promoting other products in which they might be interested. CVS and Elensys argued that there were no privacy issues because Elensys was acting solely as a contractor to CVS, and because the purpose of the mailings was to educate consumers. CVS claimed that it never shared customers' medical histories with Elensys (despite the Washington Post's indirect evidence that they had). George D. Lundberg, editor of the Journal of the American Medical Association, called the practice "a gross invasion" of privacy. Following a firestorm of criticism and complaints by consumers, CVS discontinued the practice. 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean [1]. // Coated in ice, power and telephone lines sag and often break, resulting in power outages. ... ... A prescription drug is a licensed medicine that is regulated by legislation to require a prescription before it can be obtained. ... Benjamin Thompson House, Woburn, Massachusetts. ... An independent contractor is a person or business which provides goods or services to another entity under terms specified in a contract. ... The medical history of a patient (sometimes called anamnesis [1][2] ) is information gained by a physician by asking specific questions, either of the patient or of other people who know the person and can give suitable information (in this case, it is sometimes called heteroanamnesis). ... JAMA, published continuously since in 1883, is an international peer-reviewed general medical journal published 48 times per year. ... Privacy is the ability of an individual or group to keep their lives and personal affairs out of public view, or to control the flow of information about themselves. ...

Boston prescriptions

During 2005 a rash of prescription mistakes came to light in some of CVS' Boston-area stores[2]. An investigation confirmed 62 errors or quality problems going back to 2002. In February 2006, the state Board of Pharmacy announced that the non-profit Institute of Safe Medication Practices (ISMP) would monitor all Massachusetts stores for the next two years. ^[1] Nickname: Location in Massachusetts, USA Coordinates: Country United States State Massachusetts County Suffolk County Government  - Mayor Thomas M. Menino (D) Area  - City  89. ...

Executives accused of bribing Senator

Former CVS executives John R. Kramer and Carlos Ortiz were charged with bribery, conspiracy, and fraud (including mail fraud) by a federal grand jury for allegedly paying Senator John A. Celona (D-RI) to act as a "consultant" for the company. Between February 2000 and September 2003, CVS paid Celona $1,000 a month, and he received tickets to golf outings and sporting events and compensation for travel to Florida and California. In August 2005, he pleaded guilty to mail fraud charges, and in January 2007, he was fined a record $130,000 by the Rhode Island Ethics Committee. The investigation was led by the FBI and the Rhode Island Police, and the case was prosecuted by Assistant U.S. Attorneys Gerard B. Sullivan and Dulce Donovan. Additional information is available in a press release from the FBI's Boston field office. [3]

20/20

A segment on 20/20 accused CVS, Walgreens, & Rite aid among other pharmacies, of making various prescription dispensing errors. This segment aired in March of 2007 and was called "ABC News '20/20' Undercover Pharmacy Investigation". CVS responded by claiming they have designed and invested millions of dollars in a comprehensive quality assurance program to enhance patient safety, & that they are constantly examining and implementing new and innovative ways to further improve quality. [4] [5] This article or section is not written in the formal tone expected of an encyclopedia article. ...

CVS Sued by Texas for Illegally Dumping Patient Info

Texas Attorney General Greg Abbott has sued CVS as of April 2007, for illegally dumping confidential patient information. CVS is accused of breaking the 2005 Identity Theft Enforcement and Protection Act. There are also other possible violations under the violations under Chapter 35 of the Business and Commerce Code. [6]

External links

• CVS e-commerce site
• CVS Corporation site

References