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On June 15, 2015, CVS Health announced its agreement to acquire Target Corporation 's pharmacy and retail clinic businesses. The deal expanded CVS to new markets in Seattle, Denver, Portland and Salt Lake City. The acquisition includes more than 1,660 pharmacies in 47 states. [36]
2015: CVS Health acquires Target Corporation's 1,600+ pharmacies and retail medical clinics inside Target stores. CVS has begun operating them through a store-within-a-store format. 2017: CVS announced they would be installing 25 vending machines in high traffic areas like, bus terminals, airports, and college campuses.
The Target pharmacies were rebranded as CVS Health pharmacies, which totaled 1,672 pharmacies in February 2016. The Target clinics were also rebranded as MinuteClinic. The acquisition of the Target pharmacies enabled CVS to expand its market into Seattle, Denver, Portland, and Salt Lake City.
CVS will close dozens of pharmacies located inside of Target stores in early 2024, a company spokesperson said on Thursday.
CVS acquired Signify Health for $8 billion in 2022 and is in agreement to acquire Oak Street Health for $10 billion at some point in 2023.
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