In a Tuesday interview with CNBC’s Jim Cramer, CVS CEO Karen Lynch mentioned her firm’s growth into primary care, saying it’s a cornerstone of the corporate’s health services.
In 2023, CVS closed two multibillion-dollar offers, buying dwelling health service Signify and Oak Street Health, which focuses on offering primary care for seniors. Like drugstore peer Walgreens, CVS has spent the final a number of years rising into a bigger, extra multi-faceted health-care firm.
“Think concerning the primary care because the quarterback to your health care,” Lynch mentioned, including that in-home care might be particularly useful for sufferers. “When we’re within the dwelling, we get to open up the fridge and see in the event you’re consuming nicely. We get to look and see if there’s rugs that you simply may journey on.”
Lynch additionally touched on different features of CVS’s services similar to Caremark, its subsidiary that manages prescription drug advantages for health insurers. She mentioned that by Caremark, CVS is attempting to drive competitors and decrease prices for shoppers.
The firm can also be making modifications to its retail arm. According to Lynch, CVS plans to shut 900 shops in addition to take away self-checkout from a number of areas.
“We actually checked out density, and we mentioned, typically there was a retailer on one nook and a retailer on one other nook,” Lynch mentioned. “We proceed to judge our retailer closures, however we nonetheless have complete entry to care – 85% of Americans are inside a ten-mile radius of a CVS.”
