Wednesday, 19 June, 2019


CVS mounts defense of Aetna deal on two fronts

CVS to remodel 1,500 stores into ‘Health Hubs’ by 2021 CVS to remodel 1,500 stores into ‘Health Hubs’ by 2021 Image of a CVS store with the Health Hub concept
Patty Aguilar | 06 June, 2019, 19:08

The plaintiff alleges that the registration statement was false and misleading because it touted the purported success and benefits of CVS Health's 2015 acquisition of Omnicare, Inc, while failing to disclose that, in truth, by the time of the merger, CVS Health's financial condition and expected earnings were already severely deteriorating as a result of rising costs and poor results associated with the acquisition of Omnicare.

As consumers nationwide grow more and more invested in mindful and healthy living, both companies have made moves to accommodate these interests.

CVS outlined Tuesday a strategy to accelerate growth amid skepticism from investors over its Aetna merger, including opening 1,500 health hubs in stores by 2021.

Separately, Walgreens will start adding primary care clinics next to some of its stores in the Houston area through a partnership with VillageMD.

"HealthHUBs are a powerful example of how CVS Health can provide consumers with convenient, personalized and integrated access to local health care", the company stated.

Aside from visits with dietitians, these stores also give customers a chance to get screened for eye problems caused by diabetes, talk to a pharmacist about their treatment plan or get help tracking their blood pressure.

The company plans to convert a total of 50 stores this year in Houston, Atlanta, Philadelphia, and Tampa, representing about 15% of the stores in each of the markets, it said ahead of a meeting on Tuesday with Wall Street analysts and investors in NY. It's sort of brilliant, really: Where does everyone make a pit stop right before hitting Rockaway Beach with their friends?

"We have an aging population", he said.

As they expand into care, the drugstore chains will face competition that includes major doctor groups and hospital systems that have their own support staff working to keep patients healthy. "It is hard in many communities to actually find a primary care physician".

Mehrotra also said these growing options for care may have to overcome patient reluctance. With the new format over 20% of the store is now dedicated to health services, including new durable medical equipment (DME) and supplies and new product and service combinations for sleep apnea and diabetes care. The goal, USA Today reports, is for the company to reduce its reliance on sales of retail goods and increase its commitment to health care services.

Frequent CVS customer Grace Bennett said she thinks the expanded health care services are a "fantastic step". The AP is exclusively responsible for all content.

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