CVS Caremark is the pharmacy benefit management (PBM) subsidiary of CVS Health, a diversified health services company. As a PBM, CVS Caremark works with employers, health insurance companies, and other health plan sponsors to manage prescription drug benefits and reduce drug costs for members. This includes negotiating drug prices with manufacturers, developing formularies (lists of covered drugs), processing prescription claims, and offering clinical programs to improve medication adherence and health outcomes. CVS Caremark plays a crucial role in the U.S. healthcare system by aiming to make prescription drugs more affordable and accessible while promoting better health for millions of Americans. It is a key component of CVS Health's integrated model, which also includes retail pharmacies, minute clinics, and health insurance services (Aetna).
Serves as the central hub for CVS Health's corporate leadership, strategic planning, administrative functions, and oversight of all its business segments including CVS Caremark, CVS Pharmacy, and Aetna.
A large, modern corporate campus that houses thousands of employees. It features various amenities typical of a large corporate headquarters, designed to support a productive work environment.
The work culture at CVS Health's headquarters is generally described as collaborative, fast-paced, and focused on innovation within the healthcare sector. There's a strong emphasis on the company's mission to help people on their path to better health.
The Woonsocket headquarters is significant as it's the command center for one of the largest healthcare companies in the United States, influencing healthcare delivery and policy nationwide.
CVS Caremark, as part of CVS Health, primarily operates within the United States. Its pharmacy benefit management services are tailored to the U.S. healthcare market, serving employers, health plans, and government programs across the country. While CVS Health may have limited international activities or partnerships, its core business, including CVS Caremark's PBM services, is U.S.-focused. There is no significant operational presence for CVS Caremark providing PBM services directly in other countries in the same manner it does within the U.S.
1 CVS Drive
Woonsocket
Rhode Island
USA
Address: 9501 E Shea Blvd, Scottsdale, AZ 85260 (Representative address for major operations center)
Serves as a critical center for PBM operations, leveraging the local talent pool and providing support for members and clients across the region and nationally.
Address: 2211 Sanders Rd, Northbrook, IL 60062 (Representative address for major operations center)
Supports Midwest PBM operations and contributes to national PBM strategy and service delivery, including mail-order pharmacy services.
Address: 750 W John Carpenter Fwy, Irving, TX 75039 (Representative address for Aetna/CVS Health office, often supporting Caremark functions)
Serves as a key operational hub in the Southern United States, supporting a large member base and client portfolio in the region.
Address: 30000 Aurora Rd, Solon, OH 44139 (Representative address for mail order pharmacy and PBM operations)
Key site for national mail-order pharmacy services and customer support, crucial for medication delivery and member assistance.
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As of April 2025, CVS Caremark' leadership includes:
CVS Caremark has been backed by several prominent investors over the years, including:
CVS Health has experienced several key executive transitions over the past year, including changes in the CFO role and leadership within its Aetna segment and legal department, reflecting ongoing strategic adjustments within the company.
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CVS Health, the parent company of CVS Caremark, commonly uses a standardized email format for its employees. The most prevalent format is FirstName.LastName@cvshealth.com. Variations might exist for very common names or specific departments, but this is the general structure.
FirstName.LastName@cvshealth.com
Format
Jane.Doe@cvshealth.com
Example
85%
Success rate
Reuters • May 7, 2024
CVS Health CEO Karen Lynch stated the company is actively recruiting primary care physicians for its clinics as it aims to expand its healthcare services. This is part of a broader strategy to integrate various health services following recent acquisitions like Oak Street Health....more
CNBC • May 1, 2024
CVS Health lowered its full-year earnings forecast due to rising medical costs in its Aetna insurance business and challenges in its pharmacy and consumer wellness segment. The announcement led to a significant drop in its stock price....more
Fierce Healthcare • February 21, 2024
CVS Health announced that Tom Cowhey, who had been serving as interim chief financial officer, would take on the role permanently. This followed the decision of Shawn Guertin to step down as CFO and president of health services....more
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