CVS Health is an American healthcare company that owns numerous American healthcare brands like CVS Caremark, CVS pharmacy, and Aetna. The company was founded in 1963 in Woonsocket, Rhode Island, and grew from a parent company called Mark Steven.
At first, the business was just a chain of health and beauty aid outlets, but soon it grew to include pharmacies. The company later joined the Melville Cooperation as this enabled it to manage a string of retail businesses. The move was successful, and CVS Health began to record ridiculous growth. After a period of sustained expansion with the Melville Corporation, the company split from it and became an independent company trading on the New York Stock Exchange.
In 2007, the company completed a merger with Caremax Rx, a pharmacy benefit management company, and for a short while the company was called CVS Caremax Rx. Seven years later, the corporation was renamed CVS Health as a consequence of their choosing to remove tobacco products from CVS Pharmacy store shelves.
CVS Health is one of the biggest companies in the world, and in 2020 it ranked 5th on the Fortune Five Hundred list and 13th on the Fortune Global 500 list. It raked in $194.58 billion in revenue that year, cementing its place as one of the biggest health companies ever created.
The company us also quote heavily invested in philanthropic activities. The CVS Caremark Charitable Trust was established by the company to provide affordable healthcare, the CVS Samaritan Vans was established to give free roadside maintenance to motorists in numerous communities, and the CVS Caremark Charity Classic was established to raise money for NGOs throughout New England.