CVS Health Corp. to acquire Target’s 1,600 in-store pharmacies

By: Pharma News | Views: 1412 | Date: 30-Jun-2015

This week, CVS Health Corp. will move in the direction of expanding even more. It has been announced by the drugstore behemoth that it will buy Target’s 1,600 in-store pharmacies for $1.9 billion.

CVS Health Corp. to acquire Target’s 1,600 in-store pharmacies

 

This week, CVS Health Corp. will move in the direction of expanding even more. It has been announced by the drugstore behemoth that it will buy Target’s 1,600 in-store pharmacies for $1.9 billion.

The announcement was made on Monday and on Thursday, the company will inaugurate a satellite office in Boston’s Back Bay, which will concentrate on digital innovation. Brian Tilzer, a former e-commerce executive at Staples Inc. will manage the outpost. He has been chief digital officer at CVS since 2013.

According to him, CVS has two objectives i.e. launching designers and software developers who may not go for the chance to work at the company’s campus in Woonsocket, R.I., in addition to increasing new partnerships with Boston startups, universities, hospitals and insurers.

Tilzer said, “Part of what we’re doing here is access to talent but the bigger idea is having a way we can engage with the startup community in digital health care to solve things that we can’t solve alone, and become a partner of choice to emerging companies”.

Last month, employees started moving in and nearly 40 are already working in the recently renovated space on Huntington Avenue, from the Prudential Center.

Tilzer said approximately 15 of them were already CVS Health employees who are assisting in opening the Boston facility and will also be integrating things into the mother ship again. Tilzer said the lab will ultimately employ nearly 100. He is living in Boston’s western suburbs and is looking forward to spend some of his time there.

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