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Revco was sold to CVS Pharmacy for $2.8 billion ($4.94 billion in 2023) in February 1997. [1] When it was sold, the chain had over 2,500 stores. History.
CVS Pharmacy is currently the largest pharmacy chain in the United States by number of locations (over 9,600 as of 2016) and total prescription revenue. [ 8 ] [ 5 ] [ 9 ] Its parent company ranks as the fifth largest U.S. corporation by FY2020 revenues in the Fortune 500 . [ 4 ]
CVS had purchased the Washington, D.C.–based Peoples in 1990, renovating and expanding most of the stores, but had retained the Peoples name. At the time of the company's purchase of Standard, plans already were under way to change the Peoples locations to CVS/Pharmacy stores. That name change happened in May 1994.
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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.
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