CVS acquires Target pharmacies for $1.9B
Less than one month after the $12.7 billion Omnicare acquisition, CVS Health Corp. announced plans to buy Target's pharmacies for $1.9 billion. CVS plans to run the retail giant's pharmacies and clinics, which would give it about 1,700 more locations to offer its healthcare services. CVS made this announcement June 15.
This acquisition means Target's pharmacies will soon been called CVS/pharmacy, according to the Wall Street Journal. They will operate as stores within the store and Target's clinics will be rebranded as CVS MinuteClinic(s). The deal still needs to be approved by regulators and does not have a definite closing date.
Megan Combs was Associate Editor of I Advance Senior Care / Long Term Living from 2013-2018.