CVS Plans Changes to Stores After $70B Aetna Deal
CVS Health plans to reduce the amount of store space devoted to retail and shift more to healthcare after its $70 billion acquisition of Aetna.
CVS CEO Larry Merlo told USA TODAY that the company will begin using a greater portion of the floor space in its nearly 10,000 locations to provide medical services.
"I don’t see the size of the store changing from what you would know it to be today, but I do see some space being repurposed," Merlo said.
The company plans the gradual shift after it finalized its acquisition of Aetna. The deal comes as CVS is aiming to diversify its business, navigate the changing healthcare industry and fend off Amazon.
Merlo said he envisions the "CVS Pharmacy evolving from not just a store that happens to have a pharmacy and products" into "more of a healthcare destination."