CVS to acquire Target pharmacies

The popularity and growth of retail medical clinics and pharmacies continue to increase. And now CVS will brings its popular MinuteClinics into the popular retailer Target. The two companies announced earlier this week that CVS would acquire Target’s pharmacy and clinic business for about $1.9 billion. Target currently operates 1,660 pharmacies in 47 states and 80 clinics. The pharmacies will be rebranded as CVS pharmacies, and the clinics rebranded as MinuteClinics, and operate as a “store within a store,” says a press release from CVS. Any new clinics/pharmacies opened in Target will be branded as CVS. This acquisition is one step in CVS’s goal to operate 1,500 clinics by 2017.

Source: CVS