Which company this profile covers
CVS Health Corporation is incorporated in Delaware, has executive offices in Woonsocket, Rhode Island, and trades in New York under CVS. This profile covers the parent and consolidated subsidiaries: health insurance, pharmacy benefit management, pharmacies and care services. Aetna and CVS Caremark belong to this group; their revenues must not be added again as though they were independent groups. Operations and employees are concentrated mainly in the United States. The 2025 figures cover the group before the separation announced in November 2026.
Sources: 2025 annual report: accounts and reporting boundary · Separation announcement of 4 November 2026
From the Lowell store to a health care group
The commercial business began with a health and beauty store in Lowell, Massachusetts, in 1963. In-store pharmacies followed in 1967. Adding MinuteClinic in 2006 and Caremark in 2007 extended the model from retail into care and pharmacy management. The Aetna acquisition closed in 2018; Signify Health and Oak Street Health joined in 2023. These milestones explain the combination of activities, but a brand’s age is not the incorporation date of every present-day legal entity.
Sources: Corporate history
The first Consumer Value Store was founded by Stanley and Sidney Goldstein and Ralph Hoagland. CVS was sold to Melville Corporation in 1969. The 1997 annual report’s shareholder letter describes the 1996 restructuring that transformed the Melville conglomerate into a pharmacy-focused company. This ownership history preceded its later health care acquisitions. Official Ralph Hoagland obituary: CVS founding · CVS: 1997 annual report shareholder letter. Corporate history.
Three businesses and one consolidation
Health Care Benefits primarily contains Aetna health insurance. Health Services includes pharmacy management and care services, while Pharmacy & Consumer Wellness covers pharmacy and consumer operations. Their 2025 revenues were USD 143,354 million, USD 190,425 million and USD 139,367 million, respectively; Corporate/Other contributed USD 484 million. The USD 473,630 million sum is reduced by USD 71,563 million of intersegment transactions to reach USD 402,067 million consolidated revenue. This elimination matters when a pharmacy serves members of another business within the same group.
Sources: 2025 annual report: accounts and reporting boundary
2025 accounts: revenue and attributable earnings
The complete financial year ended on 31 December 2025 and follows U.S. GAAP. Total revenue was USD 402,067 million, versus USD 372,809 million in 2024. It includes products, premiums, services and USD 2,233 million of net investment income, so the metric is broader than medicine sales. Net income attributable to CVS Health was USD 1,768 million, versus USD 4,614 million. Earnings include a USD 5,725 million goodwill impairment. The adjusted figures also published by the company do not replace accounting earnings here.
Sources: 2025 annual report: accounts and reporting boundary · Full-year 2025 results
Leadership and the announced structural change
David Joyner is chairman and CEO as checked on 8 November 2026. On 4 November, CVS announced plans for two listed companies: a health solutions business with Aetna, Caremark, CVS Specialty, Oak Street Health and Signify Health; and CVS Pharmacy, comprising pharmacies, mail pharmacy, MinuteClinic and Health100. Completion is expected in the first half of 2028, subject to approvals and other conditions. Joyner would lead the former and Prem Shah the latter. These are planned future roles: the separation has not yet been completed.
Sources: Current David Joyner biography · Separation announcement of 4 November 2026
Workforce and work organisation
At 31 December 2025, CVS employed more than 300,000 people, approximately 73% full time. This is headcount, not full-time equivalents. The impact appendix excludes contractors from its workforce boundary because their respective organisations employ them. Stores, distribution centres, clinics and administrative work require different exposure assessments. General training—about 16 million hours in 2025—must not all be described as safety training: the report classifies it as learning and development.
Sources: 2025 annual report: accounts and reporting boundary · 2025 impact appendix: workforce, OHS and emissions
Geographic presence and facilities
At the end of 2025, the group described approximately 9,000 retail locations and over 1,000 walk-in and primary care medical clinics. Its employees worked across all 50 U.S. states, the District of Columbia and Puerto Rico. Within Pharmacy & Consumer Wellness, the property inventory distinguished over 7,000 stores and approximately 1,870 pharmacies inside retail chains, alongside distribution facilities. These categories overlap with the approximate total location count and must not be added to it again. 2025 annual report, p. 12 · 2025 annual report, p. 25 · 2025 annual report, p. 68.
Health100 and the limits of digital innovation
In March 2026, CVS and Google Cloud announced a partnership for Health100, a technology subsidiary intended to connect consumers’ health care experience through artificial intelligence tools. The design envisages integrating information and services across pharmacies, insurers and care providers. This is a business and consumer-care initiative; the source does not demonstrate fewer accidents or reduced workload. A preventive assessment would examine administrative work actually removed, errors, human review capacity and new supervisory burdens alongside product adoption.
How occupational prevention is organised
The OHS statement applies a plan-do-check-act cycle across operations, including employees, contractors, suppliers and visitors. It describes risk assessments, daily checks, internal and external audits, and consultation with workers and representatives where applicable. Incidents are reported through a continuously available third-party hotline. The environmental, health and safety department investigates potentially serious injuries where appropriate and helps local managers correct causes. This documents a stated management system, not ISO 45001 certification of every facility.
Needlesticks, distribution and heat
CVS describes a pilot started in 2024 using sharps containers that enable one-handed needle disposal. The source still discusses extending use beyond immunisation rooms; it does not establish full deployment or quantify injuries prevented. Distribution operations analyse near misses to eliminate or isolate hazards, and the heat programme covers indoor and outdoor spaces. The code requires safe handling and disposal of medicines and other regulated substances. These measures must be linked to the specific tasks and sites where they apply.
Sources: People management and safety measures · Code of conduct and incident reporting
Security against threats and assaults
Corporate reporting describes time-delay safes at all CVS Pharmacy locations and de-escalation training for more than 125,000 people. It reports an 11% decrease in physical assaults on employees, but the page does not specify a denominator or methodology establishing that training caused the change. The code directs violence reports to corporate security, managers and the ethics channel. Prevention depends on combining physical barriers, organisation, response and learning; the reported percentage alone does not establish consistent safety across every site.
Sources: People management and safety measures · Code of conduct and incident reporting
2025 injury results
The 2025 appendix reports 3,873 recordable injuries and 457,880,242 hours worked. The overall recordable injury rate is 1.69 and lost-time injury frequency is 1.10, both per 200,000 hours. Recordable rates are 2.38 in retail, 7.02 in distribution and 2.72 in health care delivery. Distribution records 530 injuries and lost-time frequency of 6.53. These data identify an exposure diluted in the overall average. They are rates per hours worked, not percentages of employees, and must not be directly compared with rates expressed per million hours.
Measurement coverage and limits
The table explicitly excludes temporary labour: supplying companies report their own injuries. Contractor coverage in the OHS policy does not mean contractors are included in the statistics. The appendix attributes external assurance to carbon and water data without extending it to the injury figures used here. This table also provides no fatality count; silence must not be interpreted as zero deaths. Assessing trends requires consistent boundaries and definitions, alongside task-level outcomes, causes, corrective measures and checks of effectiveness.
Sources: 2025 impact appendix: workforce, OHS and emissions · Occupational health and safety commitment
Emotional support and working conditions
The company describes Resources for Living, its assistance programme, with twenty free confidential counselling sessions for employees, household members and certain dependants. It also includes virtual counselling, stress resources and mental health training for managers. The reviewed section does not specify the twenty-session allowance’s frequency, so an annual entitlement is not inferred. These are support benefits. Their availability does not establish that risks from workload, schedules, public-facing work or staffing have been removed, nor replace assessment of those conditions.
Emissions with explicit baseline and methodology
The environmental inventory uses operational control and a 2019 baseline. In 2025, Scope 1 records 268,591 tonnes of CO₂ equivalent and market-based Scope 2 records 407,592. The appendix has a 1,000-tonne discrepancy between two tables of the combined total; components are therefore retained separately here. Scope 3 totals 26,257,989 tonnes. Comparatives incorporate a 2026 review of emission factors for purchased goods and services. Commitments for 2030 remain targets and must not be confused with measured inventories or occupational health outcomes.
Opioid dispensing settlement
On 13 October 2026, the U.S. Department of Justice announced a USD 315 million settlement with CVS Pharmacy and related entities to resolve allegations of unlawful controlled-substance dispensing and improper billing. The complaint linked the alleged conduct to performance targets, incentives and staffing policies; these are allegations, not judicially established facts. The release, updated on 21 October, states there was no determination of liability. The DEA agreement requires a reporting channel and monitoring of dispensing patterns. This is a specific civil settlement, not a criminal conviction or proof that future compliance has already been achieved.
Sources: Department of Justice: October 2026 civil settlement
What the case contributes to prevention
CVS is useful for prevention analysis because different processes need to be connected without obscuring their exposures. A corporate average can understate distribution risks, while care delivery requires needlestick controls and stores face public interaction and threats. This editorial analysis suggests following three evidence chains: hazard and task, implemented control, and outcomes with a denominator and defined boundary. Emotional support, pharmacy compliance and OHS should remain distinct even when they interact. Public documentation supports study of practices and limitations; it is not an audit of every site or a commercial endorsement by Sabentis.
Sources: 2025 impact appendix: workforce, OHS and emissions · People management and safety measures · Department of Justice: October 2026 civil settlement
Frequently asked questions
Are CVS Health and CVS Pharmacy the same?
CVS Health is the parent covered here; CVS Pharmacy is its pharmacy business. The separation announced on 4 November 2026 is planned for the first half of 2028 and remains subject to conditions. [1]
Which complete financial year is used?
2025, ending on 31 December. Consolidated revenue is USD 402,067 million after intersegment eliminations; Aetna and Caremark are not added again. [1]
What does the occupational safety information show?
The 2025 recordable rate is 1.69 per 200,000 hours overall and 7.02 in distribution. Temporary labour is excluded, so the contractor coverage of the policy differs from the statistical boundary. [1] · [2]
Is the 2026 settlement a criminal conviction?
No. The Department of Justice describes a USD 315 million civil settlement resolving allegations and states that there was no determination of liability. It includes monitoring and reporting requirements for controlled-substance dispensing. [1]
