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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.
Peoples Drug was a chain of drugstores based in Alexandria, Virginia. [1] Founded in 1905, Peoples was subsequently purchased by Lane Drug in 1975, Imasco in 1984, and finally by CVS in 1990, which continued to run the stores under the Peoples banner until 1994, at which time the stores were converted to CVS, marking the end of the use of the Peoples Drug name.
Sales reached $1 billion in 1985, partly due to the pharmacies being added to many of CVS's older stores. [17] In 1980, CVS became the 15th largest pharmacy chain in the U.S., with 408 stores [21] and $414 million in sales. In 1988 CVS celebrated its 25th anniversary, finishing the year with nearly 750 stores and sales of about $1.6 billion.
In 2021, USA Today reported that CVS announced a plan to close nearly 900 stores from 2022 to 2024, with the goal of about 300 per year. At the time, T.J, Crawford, a CVS spokesperson, told the ...
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.
The Roanoke Star and Cardinal News are independent digital newspapers that have sought to fill the local news coverage gap resulting from the purchase of The Roanoke Times by an out-of-state publisher and its subsequent reduction in staff. [246] [247] The weekly Roanoke Tribune covers the city's African-American community. [248]