CVS Health

CVS Health Corporation (NYSE:CVS) is a US healthcare company that owns several brands including retail pharmacy chain CVS Pharmacy, pharmacy benefits manager CVS Caremark, and health insurance provider Aetna. In 2023, the company generated USD 357.8 billion in revenue. As of 2023, CVS Health was one of the largest companies in the US with ~300,000 employees and was ranked the second largest healthcare company globally by Forbes Global 2000 , based on metrics like sales, profits, assets, and market value. 

CVS Health operates across three main segments: Health Care Benefits (~29.5% of total revenue in 2023), Health Services (~52.2%), and Pharmacy & Consumer Wellness (~32.6%). Health Care care Benefits include traditional, voluntary, and consumer-directed health insurance products and services under the brand Aetna, health services include a comprehensive range of pharmacy benefit management (PBM) solutions offered under CVS Caremark, and Pharmacy and consumer wellness covers prescription drugs and a variety of health and wellness products as well as general merchandise.

CVS Health primarily operates in the US. In December 2021, it presented its strategy around making healthcare more convenient, personalized, and affordable by focusing on its high-growth foundational businesses while expanding its primary care delivery. As part of the pivot to primary care centers, CVS Health also announced plans in December 2021 to optimize its retail portfolio by closing ~900 stores (~10% of its footprint) over the next three years. The company also planned to launch new all-payer health products and services to diversify its growth portfolio while enhancing omnichannel health services and driving a digital-first approach. The company aims for net-zero emissions from its direct operations by 2048, followed by net-zero emissions across its value chain by 2050.