CVS Health Corporation is a leading health solutions company focused on connecting care to make it more accessible, affordable, and simpler for consumers. The company operates through more than 9,000 retail locations, over 1,000 walk-in medical clinics, 204 primary care medical clinics, a pharmacy benefits manager with approximately 108 million plan members and expanding specialty pharmacy solutions, and a senior pharmacy care business. CVS Health serves an estimated more than 35 million people through traditional, voluntary and consumer-directed health insurance products. The company is creating new sources of value through its integrated care model, expanding into personalized, technology-driven care delivery and health services.

• Employees: Over 300,000 (as of December 31, 2023)
• Geographic Footprint: Primarily in the U.S., including all 50 states, the District of Columbia and Puerto Rico
• Headquarters: Woonsocket, Rhode Island
• Founded: 1996
• Number of locations/facilities: More than 9,000 retail locations, more than 1,000 walk-in medical clinics, and 204 primary care medical clinics
• Revenue: $357.78 billion (FY2023)
• Key Subsidiaries/Brands: CVS Pharmacy, CVS Caremark, MinuteClinic, Signify Health, Oak Street Health, Cordavis

• CEO: Karen S. Lynch
• CFO: Thomas F. Cowhey
• Chief Medical Officer: Sreekanth K. Chaguturu, M.D.
• Chief Policy Officer and General Counsel: Samrat S. Khichi
• Chief People Officer: Laurie P. Havanec
• Chief Pharmacy Officer: Prem S. Shah
• Chief Data, Digital and Technology Officer: Tilak Mandadi
• President of Aetna: Brian A. Kane
• President of Pharmacy Services: J. David Joyner
• Board Chair: Roger N. Farah

Key leaders have extensive experience in healthcare, pharmacy, and related industries.

• Annual Revenue: $357.78 billion (FY2023)
• Net Income: $8.34 billion (FY2023)
• Total Assets: $249.73 billion (as of December 31, 2023)
• Key Financial Highlights: Revenue increased by 10.9%, net income increased by 93.4% compared to the previous year.

CVS Health offers a wide range of products and services across its segments:

• Health Care Benefits: Traditional, voluntary, and consumer-directed health insurance products, including medical, pharmacy, dental, and behavioral health plans, Medicare Advantage and Supplement plans, PDPs, and Medicaid health care management services.
• Health Services: PBM solutions, health care services in medical clinics, virtually, and in the home, and provider enablement solutions. PBM solutions include plan design, formulary management, retail pharmacy network management, and specialty and mail order pharmacy services.
• Pharmacy & Consumer Wellness: Prescription drugs, over-the-counter drugs, consumer health products, beauty products and personal care products, and long-term care pharmacy services.

The Company operates through four reportable segments:

• Health Care Benefits: Provides health insurance products and related services.
• Health Services: Offers PBM solutions, health care services in medical clinics, virtually, and in the home, and provider enablement solutions.
• Pharmacy & Consumer Wellness: Dispenses prescriptions and sells a variety of health and wellness products.
• Corporate/Other: Includes management and administrative expenses, as well as products for which the Company no longer solicits new customers.

CVS Health's strategy focuses on building a world of health around every consumer it serves. Key strategic initiatives include:

• Expanding into personalized, technology-driven care delivery and health services.
• Increasing access to quality care.
• Delivering better health outcomes.
• Lowering overall health care costs.
• Focusing on a consumer-centric strategy to drive sustainable long-term growth.

CVS Health operates in the highly competitive healthcare industry, facing competition from a variety of for-profit and not-for-profit organizations. Key market trends include:

• Shift towards consumer-focused retail marketplace.
• Increased use of technology to interact with members, providers, and customers.
• Proliferation of competing products and new entrants into the marketplace.

Major competitors include large national PBM companies, health plans, and other retail pharmacy chains.

• Market Risks: Competition, new entrants into the marketplace, changes in consumer preferences, and economic conditions.
• Operational Risks: Supply chain disruptions, ability to manage costs and pricing, and integration of acquisitions.
• Financial Risks: Interest rate fluctuations, credit risk, and ability to manage debt.
• Regulatory Risks: Changes in healthcare laws and regulations, government audits and investigations, and compliance with complex rules.