Who Owns CVS Pharmacy?

CVS Pharmacy traces its origins to 1963 when brothers Stanley and Sidney Goldstein, along with Ralph Hoagland, founded the first Consumer Value Store (CVS) in Lowell, Massachusetts. The store initially focused on health and beauty products at discounted prices. In 1967, CVS opened its first stores with integrated pharmacy departments, marking the beginning of its transformation into a pharmacy chain. This founding vision demonstrated exceptional insight into the growing demand for convenient healthcare services while establishing a distinctive approach that would define the retail pharmacy category for generations.

Throughout the 1970s and 1980s, CVS Pharmacy expanded rapidly through organic growth and strategic acquisitions. The company became known for its convenient locations, extended hours, and competitive pricing on both prescription medications and over-the-counter products. By the 1990s, CVS Pharmacy had established itself as one of the largest pharmacy chains in the United States. This period of expansion demonstrated CVS Pharmacy's exceptional ability to scale operations while maintaining consistent brand positioning and quality standards that would define the brand for decades.

In 1997, CVS acquired Revco drugstores, significantly expanding its store footprint and market presence. The 2000s saw continued expansion and modernization of pharmacy operations. In 2007, the acquisition of Caremark Rx integrated pharmacy benefits management with retail pharmacy operations. This strategic integration demonstrated CVS Pharmacy's exceptional ability to create comprehensive healthcare solutions while establishing a competitive advantage in the pharmacy market. The 2018 acquisition of Aetna further solidified CVS Pharmacy's position within an integrated healthcare model, allowing the company to coordinate pharmacy services with health insurance coverage. This continued evolution demonstrates CVS Pharmacy's exceptional ability to adapt to changing healthcare landscapes and patient needs while maintaining its core brand values and commitment to quality pharmacy services. The brand's continued success represents a significant milestone in the evolution of retail pharmacy and consumer-focused healthcare solutions.