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CVS Health

CVS Health

CVS Health Corporation is a pharmacy and retail drugstore firm. The company operates through three segments: Pharmacy Services, Retail/LTC, and Corporate. CVS handles approximately five million customers per day in its pharmacies and dispenses or manages almost two billion prescriptions each year. Headquartered in Woonsocket, Rhode Island, the company has nearly 250,000 employees.

In order to improve social access to healthcare, CVS is expanding the services offered at its MinuteClinics, the largest provider of retail health care in the United States. Most of the clinics’ services cost less than $100 and are covered by insurance, and the company is working to bring more locations to disadvantaged areas. CVS’s free preventative health services program, Project Health, offers nearly $10 million worth of care each year. The company also has initiatives to increase the availability of healthy products and has redesigned hundreds of stores to make healthy snacks more visible and prominent. To reduce its impact from operations, CVS utilizes an environmental management system that efficiently controls more than 95% of the company’s facilities from a central location. Additionally, the company has goals to reduce its carbon emissions intensity 15% by 2018 and recently began a renewable energy program that installs rooftop solar panels. CVS has a management system to increase the efficiency of its fleet, too. The company has several policies and procedures to improve the sustainability and responsibility of its supply chain.

CVS has been penalized by regulators and is facing lawsuits over its alleged improper regulation of prescription drugs. The company recently had to settle a $4.25 million lawsuit for denying Medicaid claims for reimbursement. CVS does not have a policy on the responsible sourcing of palm oil for its private label products.



Industry: Health Care
Country: United States
Website: http://www.cvshealth.com/
Disclaimer:

To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/16 and may not reflect current opinions or subsequent events.


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