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The name "CVS" was used for the first time in 1964. That year, they had 17 retail locations, and 40 stores five years later. [17] In 1967, CVS began operation of its first stores with pharmacy departments, opening locations in Warwick and Cumberland, Rhode Island. CVS was acquired by the now-defunct Melville Corporation in 1969, boosting its ...
CVS became a standalone company trading on the New York Stock Exchange under the "CVS" ticker in 1996. Stanley Goldstein was the company's first chairman. [10] CVS acquired over 2,500 Revco drug stores, establishing the company in additional Midwestern, Southeastern and Eastern states in 1997. [11]
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.
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