(NEXSTAR) – CVS Health revealed Thursday that it will likely be shuttering “select” pharmacies positioned inside Target stores.
The closures will occur early in 2024, beginning in February and ending in April, Amy Thibault, lead director of communications for CVs, instructed Nexstar in an announcement. Employees at these areas “will be offered comparable roles within the company.”
The precise variety of areas concerned isn’t but clear, however The Wall Street Journal reported that the plan entails “dozens” of pharmacies.
CVS isn’t sharing a listing of closing areas, and any prescriptions will likely be transferred to a close-by CVS Pharmacy beforehand “to ensure patients have uninterrupted access to pharmacy care.”
Thibault stated the closures are a part of a plan to “realign our national retail footprint and reduce store and pharmacy density.” She stated that the choice got here after CVS evaluated modifications in inhabitants, shopping for patterns and future well being wants as they fight to match the appropriate pharmacy format with the appropriate affected person areas.
CVS is not the one pharmacy enterprise to close areas, with Rite Aid asserting in October of final yr that greater than 150 areas would close. In June, 2023 Walgreens introduced it might close 150 stores in the U.S. and one other 300 in the U.Ok.
In 2021, CVS itself introduced that it might be closing 900 stores over three years, additionally citing “changes in population, consumer buying patterns and future health needs.”
CVS Health purchased Target’s pharmacy and clinic companies in 2015 for roughly $1.9 billion. The preliminary deal introduced 1,672 pharmacies throughout 47 states below the CVS identify.
