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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.
Target's nearly 80 clinic locations will be rebranded as MinuteClinic, and CVS plans to open up to 20 new clinics in their stores within three years. CVS started rebranding the pharmacies within the Target stores on February 3, 2016.
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 came to dominate the retail pharmacy industry and beyond. Some experts wonder whether retail's reach into health care could go too far.
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CVS Caremark (formerly Caremark Rx) (stylized as CVScaremark, previously CVS/caremark) is the pharmacy benefit management subsidiary of CVS Health, headquartered in Woonsocket, Rhode Island.
There are multiple CVS locations that have closed across the Sacramento region in recent months.
Target, along with competitors Walmart, CVS Pharmacy, and Walgreens, would take part in using their stores for testing of COVID-19. On July 16, 2020, Target joined other major retailers in requiring all customers to wear masks in its U.S. stores.
CVS is launching a new business segment that will negotiate with drugmakers to produce private label products for it to sell, the healthcare giant said Wednesday.