Who Owns CVS Specialty?
CVS Specialty is the specialty pharmacy service of CVS Health Corporation (NYSE: CVS), a publicly traded American healthcare company headquartered in Woonsocket, Rhode Island. Launched as a formal program in 2014, CVS Specialty dispenses high-cost medications for complex and chronic conditions, supported by specialty mail-order pharmacies, clinical pharmacists, and the Coram infusion services network. It is one of the three largest specialty pharmacies in the United States by dispensing volume.
Parent Company
Founded
2014
Status
Publicly Traded
Headquarters
CVS Specialty Timeline
Who Owns CVS Specialty?
- Parent Company: CVS Health Corporation
- Ownership Type: Brand division
- Company Type: Publicly Traded
- Stock Ticker: NYSE: CVS
| Brand | Parent Company | Ownership Type |
|---|---|---|
| CVS Specialty | CVS Health Corporation | Brand division |
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History of CVS Specialty
- Founded: 2014
- Founders: CVS Health (internal development)
CVS built its specialty pharmacy business in stages through the 2000s, operating specialty mail-order pharmacies and a network of retail specialty stores under the CarePlus CVS/pharmacy and Navarro names. The acquisition of Coram in January 2014 added one of the nation's largest infusion services businesses, covering roughly 240,000 patients annually at the time.
In May 2014, CVS Caremark launched Specialty Connect, the program that became the modern CVS Specialty experience. Specialty Connect let patients drop off specialty prescriptions at any retail CVS location, then receive the drug by mail or pick it up in store, backed by centralized clinical and insurance support. Pilot results showed adherence improvements of 13 percentage points for optimally adherent patients.
When the corporation renamed itself CVS Health in September 2014, the specialty business was formalized under the CVS/specialty name inside the Pharmacy Services segment. The business grew alongside the broader shift of US drug spending toward specialty medications, which now account for more than half of prescription drug spending.
Through the late 2010s and 2020s, CVS Specialty added limited-distribution drug access agreements with manufacturers, expanded home infusion through Coram, and built condition-specific clinical programs covering oncology, rheumatoid arthritis, multiple sclerosis, and rare diseases. It competes within the "Big 3" PBM-affiliated specialty pharmacies that collectively dispense roughly two-thirds of US specialty drug revenue.
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About CVS Health Corporation
What does CVS Health own?
CVS Health owns CVS Pharmacy (nearly 10,000 retail locations), CVS Caremark (pharmacy benefits management), Aetna (health insurance), MinuteClinic (retail health clinics), Oak Street Health (Medicare primary care), Omnicare (long-term care pharmacy), Navarro Discount Pharmacies, Longs Drugs, and Coram (infusion and home health services). These brands operate across three segments: Health Care Benefits, Health Services, and Pharmacy and Consumer Wellness.
Is CVS Health publicly traded?
Yes. CVS Health Corporation is publicly traded on the New York Stock Exchange under the ticker symbol CVS. The company is a component of the S&P 500 and is owned by institutional investors, mutual funds, and individual shareholders. There is no parent company or controlling shareholder.
Who founded CVS Health?
The original Consumer Value Store was founded in 1963 in Lowell, Massachusetts by Stanley Goldstein, Sidney Goldstein, and Ralph Hoagland. The company began as a health and beauty products retailer and added pharmacy departments in 1967. It was acquired by Melville Corporation in 1969 and spun off as an independent public company in 1996.
Where is CVS Health headquartered?
CVS Health is headquartered in Woonsocket, Rhode Island, USA. The company's corporate offices, including executive leadership, finance, and strategic operations, are based in Woonsocket, with additional operational offices across the United States.
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How many brands does CVS Health own?
CVS Health owns approximately 9 brands across its three operating segments. The most prominent are CVS Pharmacy, CVS Caremark, Aetna, MinuteClinic, Oak Street Health, and Omnicare. The company also operates smaller regional brands including Navarro Discount Pharmacies and Longs Drugs.
Who owns CVS Health?
CVS Health is an independent publicly traded corporation with no parent company. The company is owned by institutional investors, mutual funds, and individual shareholders who hold its NYSE-listed common stock. Major institutional holders include Vanguard Group, BlackRock, and State Street Corporation. There is no founder control or dual-class share structure.
What were CVS Health's recent financial results?
For FY2025, CVS Health reported record revenue of $402.1 billion, up 7.8% year over year, and adjusted EPS of $6.75. In Q2 2026, revenue was $106.1 billion, up 7.3%, with adjusted EPS of $2.58, beating analyst estimates of $1.85. Net income nearly tripled to $3 billion. The company raised its 2026 guidance to at least $414 billion in revenue and adjusted EPS of $7.90 to $8.10.
Has CVS Health made major acquisitions recently?
The most recent major acquisitions were Oak Street Health for approximately $10.6 billion and Signify Health for approximately $8 billion, both in 2023. The largest acquisition in company history was Aetna for approximately $69 billion in 2018. CEO David Joyner has indicated the company has the capital and leadership bandwidth to pursue additional deals across its three business areas.
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- Founded: 1963
- Headquarters: Woonsocket, Rhode Island, USA
- Company Type: Publicly Traded
- Stock: NYSE: CVS
- Revenue: $402.1 billion (FY2025); $206.5 billion (H1 2026)
- Employees: Approximately 300,000
Where Is CVS Specialty Made / Based?
- Headquarters: Woonsocket, Rhode Island, USA
CVS Specialty Categories & Tags
CVS Specialty Recalls & Controversies
CVS Specialty sits inside the broader scrutiny of PBM-owned pharmacies. Regulators and independent pharmacies have long argued that steering patients to affiliated specialty pharmacies disadvantages independents, a criticism that applies equally to Accredo and Optum. CVS has defended the model as improving adherence and cost management. The FTC's PBM investigations through the mid-2020s covered specialty dispensing practices across all three major players, with reform pressure ongoing as of 2026.
Brands Owned by CVS Health Corporation
Healthcare PharmaceuticalsAetna
Owned by CVS Health Corporation
American managed care and health insurance company offering medical, dental, pharmacy, and behavioral health plans, operating as a subsidiary of CVS Health Corporation.
health-insurancemanaged-carehealthcare
Healthcare PharmaceuticalsCaremark
Owned by CVS Health Corporation
Pharmacy benefit manager owned by CVS Health, administering prescription drug benefits for employers and health plans. In July 2026, Caremark reached a settlement with the FTC over insulin pricing and rebate practices.
pharmacy-benefit-managerpbmprescription-drugs
Healthcare PharmaceuticalsCoram
Owned by CVS Health Corporation
American specialty pharmacy and home infusion services provider, owned by CVS Health since 2014. Coram serves patients with complex conditions requiring specialized infusion therapy.
specialty-pharmacyinfusion-serviceshome-care
Healthcare PharmaceuticalsCVS Pharmacy
Owned by CVS Health Corporation
American pharmacy retail chain and one of the largest pharmacy networks in the United States, owned by CVS Health.
pharmacyretailhealthcare
Healthcare PharmaceuticalsLongs Drugs
Owned by CVS Health Corporation
American pharmacy retail chain operating in Hawaii, owned by CVS Health. Approximately 70 stores serving Hawaiian communities.
pharmacyretailhealthcare
Healthcare PharmaceuticalsMinuteClinic
Owned by CVS Health Corporation
American retail healthcare clinic chain operating over 1,100 locations within CVS Pharmacy stores, owned by CVS Health. Provides urgent care, vaccinations, chronic disease management, and virtual care services.
urgent-careretail-clinichealthcare
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CVS Specialty Ownership: Pros & Cons
Advantages
- +Vertical integration with Aetna, Caremark, and retail pharmacies
- +Retail pickup option unique among major specialty pharmacies
- +Coram infusion network adds home-administration capability
- +Scale improves drug pricing and limited-distribution access
- +Clinical programs by therapeutic area improve adherence
Considerations
- -Regulatory scrutiny of PBM-pharmacy vertical integration
- -Competing against two equally integrated rivals
- -Dependent on parent company's benefit design decisions
- -Limited transparency: financials roll into segment reporting
- -Patient choice constraints built into plan designs
Frequently Asked Questions About CVS Specialty
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Sources & Further Reading
Competitors to CVS Specialty
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Unitedhealth Group | USA | 2015 | Mass market | United states | All Genders | |
| Humana | USA | 2000 | Integrated | United states | All-ages | |
| Cencora | USA | 1994 | Mass market | United states | All Genders |
Learn More About Competitors
Healthcare PharmaceuticalsOptum Specialty Pharmacy
Owned by UnitedHealth Group
Specialty pharmacy service of Optum Rx within UnitedHealth Group, dispensing complex therapies nationally from its Irvine, California operations.
specialty-pharmacyoptumoptumrx
Healthcare PharmaceuticalsHumana Pharmacy (CenterWell Pharmacy)
Owned by Humana Inc.
Humana's mail-order and specialty pharmacy business, rebranded CenterWell Pharmacy in 2022 and serving millions of Humana members with home delivery and specialty drug services.
pharmacymail-orderspecialty-pharmacy
Healthcare PharmaceuticalsUS Bioservices
Owned by Cencora Inc.
Independent specialty pharmacy of Cencora, acquired in 2003, providing high-cost therapies, reimbursement support, and clinical services for complex conditions.
specialty-pharmacycencorarare-disease
Competitive Analysis
Market Positioning: CVS Specialty competes with 3 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Independent Alternatives to CVS Specialty
Looking for brands with different ownership structures? These similar brands are not owned by CVS Health Corporation, giving you alternative choices that support different corporate structures.
Healthcare PharmaceuticalsPharmacy Direct
Owned by Chempro Chemists
Australian online pharmacy operated by Chempro Chemists from Molendinar, Queensland. Offers prescription medications, health products, and wellness items through digital platforms and mail-order delivery.
online-pharmacymail-orderdigital-health
Privately Owned
Pharmacy Direct is privately owned, unlike CVS Specialty which is under a publicly traded parent company.
Healthcare PharmaceuticalsBand-Aid
Owned by Kenvue
American adhesive bandage brand invented in 1921, owned by Kenvue Inc. Band-Aid is the leading adhesive bandage brand in the United States and is sold in more than 100 countries.
wound-careadhesive-bandagefirst-aid
Privately Owned
Band-Aid is privately owned, unlike CVS Specialty which is under a publicly traded parent company.
Healthcare PharmaceuticalsBenadryl
Owned by Kenvue
American brand of antihistamine medication used to treat allergies, itching, and cold symptoms, manufactured and marketed by Johnson & Johnson.
antihistamineallergy-reliefcold-medicine
Privately Owned
Benadryl is privately owned, unlike CVS Specialty which is under a publicly traded parent company.
Healthcare PharmaceuticalsBoots
Owned by Walgreens Boots Alliance
Boots is the UK's leading pharmacy-led health and beauty retailer, founded in 1849, now operating as The Boots Group under Sycamore Partners since August 2025.
pharmacyhealth-beautyuk-retail
Privately Owned
Boots is privately owned, unlike CVS Specialty which is under a publicly traded parent company.
Healthcare PharmaceuticalsDuane Reade
Owned by Walgreens Boots Alliance
Duane Reade is a New York City drugstore chain owned by Walgreen Co. under Sycamore Partners, operating approximately 90 stores across the five boroughs.
pharmacydrugstorenew-york
Privately Owned
Duane Reade is privately owned, unlike CVS Specialty which is under a publicly traded parent company.
Healthcare PharmaceuticalsMotrin
Owned by Kenvue
American brand of ibuprofen pain relief medication owned by Kenvue, the consumer health spinoff from Johnson & Johnson, which is being acquired by Kimberly-Clark in a $40 billion deal announced in November 2025.
pain-reliefibuprofenanti-inflammatory
Privately Owned
Motrin is privately owned, unlike CVS Specialty which is under a publicly traded parent company.
CVS Health Corporation Stock Information
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