CVS Health Corporation (formerly CVS Caremark Corp.) together with its subsidiaries is one of the largest pharmacy health care providers in the United States; with integrated offerings across the entire spectrum of pharmacy care. CVS is unique among the big three retail drugstore chains (Walgreen's, Rite Aid, CVS), in that it operates its own pharmacy benefit management ("PBM"), and is thus, an integrated pharmacy health care provider. CVS's offerings include pharmacy benefit management services; mail order, retail and
specialty pharmacy; disease management programs; and retail clinics. CVS operates drugstores throughout the U.S., the District of Columbia, and Puerto Rico. As of December 31, 2014, CVS operated 7,599 retail locations. Its stores sell prescription drugs, as well as other products such as nonprescription medications, health and beauty aids, and cosmetics. The company also operates the nation's largest medical care clinic, with 900 MinuteClinic® health care clinics throughout the country. MinuteClinics are staffed by nurse practitioners and physician assistants, who utilize nationally recognized protocols to diagnose and treat minor health conditions, perform health screenings, monitor chronic conditions, and deliver vaccinations. CVS expects to grow MinuteClinic® 1,500 locations in more than 35 states by 2017.
Existing retail stores range in size from approximately 5,000 to 25,000 square
feet, although most new stores range in size from approximately 8,000 to
13,000 square feet and typically include a drive-thru pharmacy. During 2014,
CVS filled approximately 734 million retail prescriptions, or approximately 21% of the U.S. retail pharmacy market. As of December 31, 2014, CVS operated 900 retail health care clinics in 31 states and the District of Columbia under the MinuteClinic® name, the vast majority of which are located within CVS/pharmacy stores. There were 24 million patient visits,nationally.
The quarterly dividend increased by 38 percent in 2013 and the company recently announced another 22 percent increase for 2014, which marks the 11th consecutive year of increases. CVS Health is strongly positioned to take full advantage of the upcoming
'Generic Wave' due to its integrated systems with Caremark for pharmacy benefit management ("PBM") for 2015 and beyond.