For nonsmokers, CVS Health hit another home run when it announced that it is teaming up with Target in a $1.9 billion deal.
Target will sell its pharmacy and clinic operations to CVS Health. The drugstore chain will be able to reach more patients and grow its in-store MinuteClinics, The Associated Press reports.
CVS Health last year made headlines when it eliminated tobacco products from its stores to boost its image as a company focused on people’s health. It also changed its name from CVS Caremark to CVS Health.
Linking with Target is a natural fit.
Target in 1996 stopped selling tobacco products. The deal includes more than 1,660 pharmacies in Target stores that will be branded as CVS/pharmacy. New Target stores also will have CVS pharmacies.
CVS Health operates 7,800 drugstores and close to 1,000 walk-in medical clinics, which it plans to grow to 1,500 clinics by 2017.