CVS Health Corporation (previously CVS Corporation or CVS Caremark Corporation) is an American retail pharmacy and health care company headquartered in Woonsocket, Rhode Island. Consumer Value Stores (CVS) began in 1963 with three partners, brothers Stanley and Sidney Goldstein and partner Ralph Hoagland, who grew the venture from a parent company, Mark Steven, Inc., that helped retailers manage their health and beauty aid product lines. The business began as a chain of health and beauty aid stores, but within several years, pharmacies were added. To facilitate growth and expansion, the compan ...
y joined The Melville Corporation, which managed a string of retail businesses. Following a period of growth in the 1980s and 1990s, CVS Corporation spun off from Melville in 1996, becoming a standalone company trading on the New York Stock Exchange as CVS.
It later completed a merger with the pharmacy benefit management company Caremark Rx in 2007 and was renamed CVS Caremark Corporation. The company was renamed CVS Health in 2014 following its decision to remove tobacco products from CVS Pharmacy store shelves. CVS Health's assets include CVS Pharmacy, CVS Caremark, CVS Specialty, and the retail clinic MinuteClinic.