Tag: CVS Health
CVS pushes further into health care delivery, acquiring primary care company for $10.6B
February 8, 2023HME News Staff
WOONSOCKET, R.I. – CVS Health will acquire Oak Street Health, a leading multi-payer, value-based primary care company focused on older adults, in an all-cash transaction at $39 per share, representing an enterprise value of approximately $10.6 billion.
“Combining Oak Street Health’s platform with CVS Health’s unmatched reach will create the premier value-based primary care solution,” said CVS Health President and CEO Karen S. Lynch. “Enhancing our value-based...
In brief: Quipt acquisition, CVS’s new strategy, ResMed’s new board members
November 23, 2021HME News Staff
CINCINNATI – Quipt Home Medical has executed a non-binding letter of intent to acquire an “arm’s length” private respiratory care company servicing seven states throughout the U.S. reporting unaudited trailing 12-month annual revenues of about $14 million, $1 million in net income and positive adjusted EBITDA.
The acquisition adds a new vertical in long-term care settings, four new states and 165 remote respiratory therapists.
“We continue to strategically...
CVS announces new omnichannel strategy
November 22, 2021HME News Staff
WOONSOCKET, R.I. – CVS Health plans to focus on three distinct store models, including an enhanced version of HealthHUB locations with products and services designed for everyday health and wellness needs, as part of a new omnichannel pharmacy strategy.
It will also focus on stores offering primary care services, and traditional stores providing prescription services and health, wellness, personal care and other convenient retail offerings.
Additionally, as part of the strategy...
In brief: CVS doubles down on HealthHUBs, CMS seeks input on paperwork burden
June 7, 2019HME News Staff
WOONSOCKET, R.I. - CVS Health will open additional HealthHUBs in Houston this year, as well as in Atlanta, Philadelphia/Southern New Jersey and Tampa, the company announced as part of its 2019 Investor Day on June 4.CVS Health plans to have a total of 1,500 HealthHUBs operating by the end of 2021.“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.CVS began piloting HealthHUBs...
Judge presses pause on CVS-Aetna deal
December 5, 2018HME News Staff
WOONSOCKET, R.I. - A federal judge has told CVS Health Corp. and Aetna not to begin their integration until he has a chance to weigh in on their $70 billion merger. CVS announced on Nov. 28 that the transaction was completed. U.S. District Judge Richard Leon said, however, that the two companies have until Dec. 14 to show him why they should be allowed to continue with the integration, according to an article on modernhealthcare.com. It is unclear whether Leon has any power to forestall the integration,...
CVS-Aetna deal clears major hurdle
October 11, 2018HME News Staff
WOONSOCKET, R.I. - The U.S. Department of Justice on Wednesday approved the $69 billion merger between CVS Health and Aetna.
The deal, which is expected to be finalized in the fourth quarter of 2018, is still subject to state regulatory approvals, many of which have been granted, according to a press release.
"DOJ clearance is an important step toward bringing together the strengths and capabilities of our two companies to improve the consumer health care experience," said CVS Health President...
Diabetes, sleep and one really big deal
January 23, 2018Theresa Flaherty, Managing Editor
It was one of the last stories we published in 2017, but a potential merger of giants topped the list of most read specialty stories for the year.
The No. 1 story, “CVS-Aetna deal casts chilling shadow over pharmacy landscape,” about CVS's plan to pay approximately $69 billion for the health insurer, deals with the potential negative impact on privately-owned pharmacies. It's easy to see how this latest news of consolidation within the healthcare industry would strike a note...
CVS-Aetna deal casts chilling shadow over pharmacy landscape
December 8, 2017Theresa Flaherty, Managing Editor
YARMOUTH, Maine - If a planned merger between CVS Health and Aetna goes through, community pharmacists say it could flatten the industry.“It's going to have a terrible negative impact on privately-owned pharmacies,” said Steve Nelson, CEO and president of Okeechobee Discount Drugs in Okeechobee, Fla. “They've got a pharmacy benefit manager (CVS CareMark) and now an insurance company. They'll be in direct competition with physicians, they'll sell you policies, you'll see their clinicians—there's...
In brief: Bid bill to drop this week, House committee launches inquiry into prosthetic changes
May 6, 2016HME News Staff
The “Patient Access to Durable Medical Equipment Act of 2016” will join a bill already introduced in the Senate that also seeks to push back the date of the cuts, which will usher in reimbursement based 100% on the competitive bidding program, from July 1, 2016, to Oct. 1, 2017.
Unlike S. 2736, however, the House bill does not seek to speed up plans to limit federal Medicaid reimbursement for DME to Medicare reimbursement as a “pay for.” A draft of the bill states: “This...
CVS nabs Omnicare for $12.7 billion
May 21, 2015HME News Staff
WOONSOCKET, R.I., and CINCINNATI- CVS Health Corp today announced plans to acquire Cincinnati-based Omnicare for $12.7 billion in cash. The deal includes $2.3 billion of the pharmacy provider's debt. “(The acquisition) creates new opportunities for us to extend our high-quality, innovative pharmacy programs to a broader population of seniors and chronic care patients as they transition across the care continuum,” said Larry Merlo, president and CEO of CVS Health, in a release. The...