Target, CVS Marry the Drugstore With the Big-Box Store
CHARLOTTE, N.C. — The first CVS Pharmacy locations within Target stores have opened in the Charlotte, N.C., market. The move follows CVS Health’s acquisition of all Target pharmacies and retail clinics in 47 states. The deal was finalized in December.
The store-within-a-store spaces are located in Hickory, Monroe, Morrisville, Raleigh, Matthews and Wesley Chapel. They feature expanded pharmacy services and enhanced digital tools.
“Our pharmacy care and clinic offerings, along with our innovative digital tools, will offer Target guests expanded wellness options and increased access to care,” said CVS Health President and CEO Larry Merlo. “In addition, having CVS Pharmacy in Target stores will expand the network of our pharmacies available to our CVS Caremark plan members and allow millions of new patients to utilize our unique suite of pharmacy programs, improving outcomes for patients and lowering costs for clients.”
In all, CVS Health plans to convert 1,672 Target pharmacies to CVS Pharmacy locations nationwide on a rolling basis over the next six to eight months to ensure no interruption of service for customers. Also, going forward, a CVS Pharmacy will be included in all new Target stores offering pharmacy services, and Target clinic locations will be rebranded to CVS MinuteClinic over the next six to eight months.
The Target acquisition expanded CVS Health’s pharmacy footprint by around 20 percent and its clinic footprint by about 8 percent. Further, consumers in several new markets – among them Seattle, Denver, Portland and Salt Lake City – will soon be able to visit a CVS Pharmacy for the first time, giving CVS Health a presence in every state except Wyoming.
Eventually, each Target pharmacy will transition to a full CVS Pharmacy, offering the complete range of services available at traditional CVS Pharmacy locations.
“Target is committed to offering solutions for our guests as they prioritize making smarter choices for the overall health and wellbeing of themselves and their families,” noted Brian Cornell, chairman and CEO of the Minneapolis-based big-box retailer, which has 1,792 stores. “As the number of stores opening rebranded pharmacies and clinics grows, more and more guests will have access to CVS Health’s leading pharmacy care and clinical programs during their Target shopping experience."
CVS has also launched a set of new digital tools, including the CVS Pharmacy app and CVS.com, which offer a series of services, as well as CVS Pharmacy’s ExtraCare loyalty program and opt-in ExtraCare Pharmacy & Health Rewards.