Six things to know about the CVS / Target Deal
Submitted By Clive Riddle, Created 06/19/2015 - 18:36
- CVS Health will acquire Target’s pharmacy and clinic businesses for approximately $1.9 billion.
- CVS Health will acquire Target’s more than 1,660 pharmacies across 47 states and operate them through a store-within-a-store format, branded as CVS/pharmacy
- A CVS/pharmacy will be included in all new Target stores that offer pharmacy services
- Target’s nearly 80 clinic locations will be rebranded as MinuteClinic
- CVS Health will open up to 20 new clinics in Target stores within three years of the close of the transaction. The new clinics will be part of CVS/minuteclinic’s plan to operate 1,500 clinics by 2017
- CVS Health and Target plan to develop five to 10 small, flexible format stores over a two-year period following the deal close, which will each be branded as TargetExpress and include a CVS/pharmacy
Source: Target Press Release, June 15, 2015
Source URL: https://corporate.target.com/article/2015/06/cvs-health-anno...