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CVS Caremark was founded as MedPartners, Inc. in 1993 in Birmingham, Alabama by several local businessmen as a physician practice management (PPM) company. [1] HealthSouth, New Enterprise Associates, and Richard M. Scrushy stepped in to provide the company with early financial backing.
CVS Health Corporation is an American healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands.
On November 7, 2007, Mac Crawford stepped down as chairman of the board for CVS Caremark. He was replaced by president and CEO of CVS Caremark, Tom Ryan. [30] On August 12, 2008, CVS Pharmacy announced that it would acquire Longs Drugs for $2.9 billion. Walgreens made a counteroffer but dropped it. The deal closed October 30, 2008.
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