CVS Health said Wednesday it is splitting into two companies, marking one of the largest shakeups in the healthcare industry. It’s a major reversal of the mergers that brought together the nation’s largest dr-gstore retailer along with health insurance giant Aetna and pharmacy benefit manager Caremark.
One company, which would house CVS’s 9,000 retail pharmacies, mail order pharmacy, specialty dr-g business and MinuteClinic, will be named CVS Pharmacy.
The other, comprising of Aetna, Caremark and two companies that CVS acquired that provide primary care and in-home health evaluations to senior citizens, will be called CVS Health in the interim.
The separation is expected to close in early 2028.