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Aetna Inc. (/ ˈ ɛ t n ə / ET-nə) is an American managed health care company that sells traditional and consumer directed health care insurance and related services, such as medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans, primarily through employer-paid (fully or partly) insurance and benefit programs, and through Medicare.
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CVS Specialty is the specialty pharmacy division that provides specialty pharmacy services for individuals with chronic or genetic diseases who require complex and expensive drug therapies. CVS Health operate 24 retail specialty pharmacy stores and 11 specialty mail order pharmacies, making them the largest specialty pharmacy in the United States.
In the United States, a pharmacy benefit manager (PBM) is a third-party administrator of prescription drug programs for commercial health plans, self-insured employer plans, Medicare Part D plans, the Federal Employees Health Benefits Program, and state government employee plans.
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CVS started rebranding the pharmacies within the Target stores on February 3, 2016. [39] In December 2017 CVS Health announced a deal to acquire Aetna. [40] On October 10, 2018, CVS Health received approval from the United States Department of Justice to acquire Aetna, for $69 billion. [41] CVS on Pratt Street in Baltimore, Maryland.
CVS Caremark was founded as MedPartners, Inc. in 1993 in Birmingham, Alabama by several local businessmen as a physician practice management (PPM) company. [1] HealthSouth, New Enterprise Associates, and Richard M. Scrushy stepped in to provide the company with early financial backing.
The company was acquired by CVS Health in September 2014 and is operated as a separate brand and business of CVS, headquartered in Miami, Florida. The company mainly operates in Miami-Dade and Broward Counties and currently has 28 stores. Navarro Discount Pharmacies has a 17% market share in South Florida, ahead of Walgreens and CVS/pharmacy. [1]