All Target pharmacies to be rebranded in coming months
WESLEY CHAPEL, N.C. — The first CVS pharmacies have opened in six Target discount stores in North Carolina.
Branded as CVS Pharmacy, the pharmacies are being operated as store-within-a-store departments and are located in Hickory, Monroe, Morrisville, Raleigh, Matthews and Wesley Chapel, N.C. Executives from CVS Health and Target Corp. plan to participate a grand opening event Wednesday morning at the Target store on Weddington Road in Wesley Chapel.
The debut of CVS pharmacies in Target stores comes about six weeks after CVS Health closed its acquisition of Target’s pharmacy and retail health clinic business. The $1.9 billion deal was announced in mid-June.
Plans call for CVS to convert the 1,672 Target pharmacies in 47 states to CVS Pharmacy locations on a rolling basis over the next six to eight months. The companies also said they will rebrand the 79 Target clinic locations as MinuteClinic, CVS Health’s retail clinic banner, during that time frame.
“As we roll out the new CVS Pharmacy in Target stores, we will be working closely with patients to make their transition to our services and programs as simple and seamless as possible,” CVS Pharmacy president Helena Foulkes said in a statement. “CVS Pharmacy in Target stores will not only introduce new customers to our leading pharmacy care and innovative clinical programs, it will also introduce them to a set of digital tools to help them stay healthy,” added Foulkes, who’s also an executive vice president of CVS Health.
The companies said all Target pharmacies, over time, will be able to offer the full suite of CVS Pharmacy services.
These include such programs as Maintenance Choice, which lets CVS Caremark plan members fill 90-day supplies of medications for chronic conditions via mail order or a CVS Pharmacy location; Specialty Connect, which enables patients to bring their specialty prescriptions to any CVS Pharmacy; and Pharmacy Advisor, which provides CVS Caremark plan members with chronic conditions with face-to-face counseling when fill prescriptions at CVS Pharmacy locations, by phone or by mail.
Maintenance Choice is now available in all pharmacies in Target, and Specialty Connect will become available as Target pharmacies become CVS locations, the companies said. Pharmacy Advisor is expected to be available at all CVS Pharmacy locations in Target by the end of this year.
Patients at CVS Pharmacy in Target, too, will be able to use digital tools like the CVS Pharmacy app and CVS.com to help them manage their prescriptions and adhere to their medications. In addition, the CVS ExtraCare loyalty program and opt-in ExtraCare Pharmacy & Health Rewards will allow patients to earn $5 in ExtraBucks Rewards for every 10 prescriptions filled.
“We’re thrilled to have the opportunity to introduce our integrated pharmacy services and health care expertise to Target guests across the country,” stated CVS Health president and chief executive officer Larry Merlo. “Our pharmacy care and clinic offerings, along with our innovative digital tools, will offer Target guests expanded wellness options and increased access to care. In addition, having CVS Pharmacy in Target stores will expand the network of our pharmacies available to our CVS Caremark plan members and allow millions of new patients to utilize our unique suite of pharmacy programs, improving outcomes for patients and lowering costs for clients.”
The companies said a CVS Pharmacy will be included in all new Target stores that offer pharmacy services. And when the deal was announced, they said they aim to open up to 20 new MinuteClinics in Target stores within three years.
“Target is committed to offering solutions for our guests as they prioritize making smarter choices for the overall health and well-being of themselves and their families. As the number of stores opening rebranded pharmacies and clinics grows, more and more guests will have access to CVS Health’s leading pharmacy care and clinical programs during their Target shopping experience,” commented Brian Cornell, chairman and CEO of Target. “At the same time, our signature category of wellness continues to gain strength as we shift resources to delivering products and experiences that help guests eat well, be active and find natural and clean label options.”
CVS reported that the acquisition widens its pharmacy footprint by about 20% and its clinic footprint by about 8%. The deal also brings CVS Pharmacy to several new markets, such as Seattle, Denver, Salt Lake City and Portland, Ore., the company noted.
With Target pharmacies in the fold, CVS stands as the largest U.S. chain drug retailer, with more than 9,500 retail pharmacies plus over 1,100 walk-in medical clinics. CVS Health said it now has a presence in every state except Wyoming.
The No. 2 U.S. drug chain, Walgreens (including Duane Reade stores), operates more than 8,200 drug stores in 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Walgreens, however, is poised to leapfrog CVS back into the No. 1 position with its $17.9 billion deal to acquire Rite Aid Corp., the third-largest U.S. drug chain. A Walgreens-Rite Aid merger would create a pharmacy retailer with more than 12,800 stores. The transaction is pending approval of regulators and Rite Aid shareholders, who are scheduled to vote on the agreement in a special meeting on Feb. 4.
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