CVS is splitting into two companies: Healthcare giant's 'Pharmacy' breakup explained

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CVS is splitting into two companies: Healthcare giant's 'Pharmacy' breakup explained

Fast Company·Sam Becker·10 days ago

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BY Sam Becker

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CVS is breaking up.

On Wednesday, the healthcare giant announced plans to split into two separate, independent companies, and both will be publicly traded.

The two companies will form a “leading healthcare solutions company” called CVS Health, and will encompass Aetna, CVS Caremark, CVS Specialty, Oak Street Health, and Signify Health.

The second company, dubbed CVS Pharmacy, will be made up of roughly 9,000 CVS pharmacies, mail pharmacy, MinuteClinic, and the Health100 tech services business.

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The company also announced that current CVS Health chair and CEO David Joyner will serve as CEO of the “new” CVS Health, and Prem Shah, current Group President of CVS Health, will be the CEO of the “new” CVS Pharmacy.

“Our history is defined by proactively evolving to stay ahead of what’s next in…

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CVS is splitting into two companies: Healthcare giant's 'Pharmacy' breakup explained