PYMNTS.com November 19, 2021

The decision by pharmacy giant CVS to shutter 900 stores over the next three years as part of a pivot to a more omnichannel healthcare approach is a sign of changing dynamics in the sector.

In addition to a shuffling of the C-suite — Prem Shah and Michelle Peluso take over as co-presidents of CVS Health’s retail business in January 2022, and Executive Vice President and President, CVS Retail/Pharmacy Neela Montgomery is departing at year’s end — the company is expanding on an omnichannel strategy with national healthcare superstore ambitions.

statement issued on Thursday (Nov. 18) said that after a strategic review, “CVS Health will create new store formats to drive higher engagement with consumers. Three distinct models will serve as community health destinations: sites dedicated to...

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Topics: Patient / Consumer, Pharma, Primary care, Provider, Retail care, Retailer
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