CVS Health to split pharmacies from insurance and PBM units
Business
CVS Health is planning to separate its retail pharmacy stores from its insurance and pharmacy-benefit operations.
This big move, led by current CEO David Joyner, is a major shift from its old all-in-one healthcare approach: remember when it bought Aetna for $78 billion back in 2018?
CVS reached $117 billion market value
If the split goes through, CVS's 9,000 pharmacies could become their own publicly traded company, while Aetna and Caremark stick together.
The change comes as pharmacy benefit managers face more scrutiny in the US
Since Joyner took over in October 2024, CVS shares have climbed and the company has hit a $117 billion market value.
With record revenue last year ($402.1 billion), all eyes are on how this shakeup will impact CVS's future plans.