Six things to know about the CVS / Target Deal

1. CVS Health will acquire Target’s pharmacy and clinic businesses for approximately $1.9 billion.
2. CVS Health will acquire Target’s more than 1,660 pharmacies across 47 states and operate them through a store-within-a-store format, branded as CVS/pharmacy
3. A CVS/pharmacy will be included in all new Target stores that offer pharmacy services
4. Target’s nearly 80 clinic locations will be rebranded as MinuteClinic
5. CVS Health will open up to 20 new clinics in Target stores within three years of the close of the transaction. The new clinics will be part of CVS/minuteclinic’s plan to operate 1,500 clinics by 2017
6. CVS Health and Target plan to develop five to 10 small, flexible format stores over a two-year period following the deal close, which will each be branded as TargetExpress and include a CVS/pharmacy

Source: Target Press Release, June 15, 2015
Source URL: https://corporate.target.com/article/2015/06/cvs-health-anno...

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