CVS year in review: A timeline of key events

2019 was largely marked by legal disputes over CVS Health's acquisition of health insurer Aetna. But it also saw the company introduce new health-focused designs, partnerships and executives as it fought to stay competitive in today's pharmacy industry. 

Below is a timeline of key moves CVS made in 2019, reported by Becker's Hospital Review:

Editor's Note: The list doesn't include lawsuits, non-healthcare-focused partnerships or state-centric news.

Jan. 9: CVS debuts health programs a month after acquiring Aetna
CVS Health rolls out new health programs and services after closing its roughly $70 billion acquisition of Aetna.

Jan. 15: Walmart splits with CVS in drug-pricing dispute
Walmart says it will leave the drugstore networks run by CVS Health's pharmacy benefit management unit because of a pricing dispute.

Jan. 15: Anthem inks OTC agreement with CVS 
Anthem Medicare Advantage members in California and New York can now purchase over-the-counter medications and health supplies at CVS Pharmacy stores using their health plan allowance. 

Jan. 18: CVS, Walmart reach network agreement after contract impasse
Walmart says it will remain part of CVS Health's pharmacy benefit management network, ending a contract impasse between the two retail pharmacy giants.

Feb. 13: CVS unveils HealthHub store design
CVS Health unveils three redesigned health-focused concept stores in the Houston market.

Feb. 19: CVS remodels to look like physician offices
CVS' walk-in clinics, called MinuteClinics, now offer blood-testing labs and health screenings for such conditions as diabetic retinopathy, or vision loss from diabetes. Customers can also meet with a care concierge to access the new health services.

Feb. 20: CVS Health reports net loss of $421M in Q4, releases 2019 guidance
CVS Health reports a net loss of $421 million in the fourth quarter of 2018, down from a profit of $3.29 billion the same period a year earlier.

Feb. 26: CVS announces plans to spend $325M on digital healthcare in 2019
CVS Health says it plans to spend $325 million to $350 million on technology in 2019 to support its shift to offering more convenient healthcare options.

March 4: CVS selects CIO to lead integration with Aetna
CVS Health appoints Roshan Navagamuwa as CIO to integrate the company's extensive technology infrastructure and data with IT systems used by health insurer Aetna. 

April 4: CVS expands same-day prescription delivery to 6,000 stores
CVS Health is now offering same-day prescription delivery services at 6,000 locations nationwide.

May 1: CVS sees revenue jump 35% in Q1, credits Aetna integration, healthcare sales
In the first full quarter since CVS Health closed its $70 billion acquisition of health insurer Aetna, CVS sees its net income increase 43 percent to $1.42 billion, up from $998 million the same period a year earlier.

May 2: CVS closes 46 underperforming stores
CVS Health closes 46 stores in 15 states and Washington D.C. that it says are underperforming. It costs CVS a $135 million "store rationalization charge." 

June 4: CVS announces plans to open 1,500 HealthHub stores by the end of 2021 
After success with its pilot sites in Houston, CVS Health plans to open 1,500 HealthHub stores by the end of 2021. 

June 12: CVS stock slides on report judge will squash Aetna deal 
CVS Health sees its shares fall after a New York Post report says people close to the companies think a federal judge will rule against its $69 billion takeover of Aetna.

July 11: CVS brings expanded health clinics to cities with most chronic diseases
CVS Health announces plans to open HealthHubs in several new markets in 2020 that are expected to have higher populations of chronic disease patients.

July 30: Partners HealthCare executive becomes CMO of CVS Caremark
CVS Health selects Sree Chaguturu, MD, to serve as CMO of its pharmacy benefits management business, CVS Caremark.

Aug. 7: CVS' Q2 earnings beat analysts predictions
CVS Health releases its second-quarter earnings report, beating analyst predictions as its three businesses reported better-than-expected results.

Sept. 5: CVS-Aetna deal gets final approval from judge 
CVS Health's $69 billion purchase of Aetna is official after a federal judge rules that, with its planned divestitures, the deal is not anticompetitive.

Sept. 9: CVS hires former Walgreens telemedicine executive to lead consumer health 
CVS poaches former Fitbit and Walgreens executive Adam Pellegrini to lead its consumer health initiatives.

Nov. 1: CVS makes first prescription deliveries via drone 
CVS Pharmacy and United Parcel Service's Flight Forward subsidiary successfully use drones to deliver prescription drugs to two customers' homes.

Nov. 6: CVS announces plans to close 22 'underperforming' stores 
CVS Health plans to close 22 "underperforming" drugstores in early 2020, adding to the 46 stores it closed earlier this year. 

Nov. 6: Aetna boosts CVS Q3 profit by 10%
Aetna boosts CVS Health's profits by 10 percent in the third fiscal quarter.

Nov. 26: Starboard Value takes stake in CVS Health
New York-based investment adviser Starboard Value takes a stake in CVS Health and holds talks with the company's management.

Dec. 5: CVS Health CEO outlines plans for expansion
CVS Health CEO and President Larry Merlo discusses the company's three-part "strategic vision," exemplified by the plans to open hundreds more HealthHubs in the coming months.

More articles on pharmacy:
Drugmakers shift from clinical trials, mine EMRs for drug approvals
Roche buys international rights to Sarepta's Duchenne drug for $750M
Former Aegerion sales rep defrauded insurers, stole identities to push cholesterol drug

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