cvs health corp (CVS) Key Developments
CVS and IBM Team Up to Improve Care for Chronic Conditions
Jul 30 15
CVS and IBM are partnering to create a computer database system that brings together health records, pharmacy and medical claims information, environmental factors, and fitness devices to help healthcare providers manage patient treatment plans better. The companies announced their plan to combine patient and other health data with predictive analytics and the cognitive computing of IBM's Watson Health Cloud to improve care management services for patients with chronic conditions. The services IBM and CVS plan to build together will be made available to insurers and others involved with the employer and health plan marketplace to help predict the health of individuals by analyzing more information better, encourage patients to be more healthy and follow treatment plans, and find more cost-effective care providers. The companies expect the services they develop to especially help with chronic conditions such as hypertension, heart disease, diabetes, and obesity, which represents represent 86% of the $2.9 trillion in annual health spending in the United States.
CVS Health Corporation Announces Quarterly Dividend, Payable on August 3, 2015
Jul 8 15
CVS Health Corporation announced that its board of directors has approved a quarterly dividend of $0.35 (35 cents) per share on the company's common stock. The dividend is payable on August 3, 2015, to holders of record on July 23, 2015.
CVS Health Opens New Digital Innovation Lab in Boston, Massachusetts
Jul 1 15
CVS Health has opened a new Digital Innovation Lab in Boston, Massachusetts. The new facility will focus on developing digital services and personalized capabilities. The Lab will serve as a vital hub for the rapidly growing digital team at CVS Health, which will remain headquartered in Woonsocket, R.I. The Digital Innovation Lab will embody the CVS Health digital team's mission to run like a startup, accelerating speed-to-market and impact of digital innovation across the enterprise, by using the resources of the Lab to rapidly test, improve and implement new programs. Primary focuses of the Lab will include the exploration of breakthroughs for digital health through innovation in mobile, personalization, multi-channel e-commerce, connected health and digital therapeutics. The Digital Innovation Lab, located at 116 Huntington Avenue in Boston's Back Bay neighborhood, will ultimately employ up to 100 team members, complementing the work of the more than 100 digital professionals currently at the company's Digital Experience Center in Woonsocket. The company is actively recruiting talent with expertise in everything from application development and creative digital design, to engineering, coding, usability and customer experience.
The Pittsburgh Business Group on Health Inks Three-Year Contract with CVS Health Corp
Jun 25 15
The Pittsburgh Business Group on Health inked a three-year contract with CVS Health Corp. that is expected to save group members $75 million over the three-year life of the agreement. The new agreement goes into effect in January 2016. CVS will provide pharmacy benefit management services for PBGH's 80 employer-members, serving about 175,000 members and overseeing more than $200 million in prescription drug expenditures annually. The PBGH-CVS contract also comes at a busy time for CVS, which announced a $1.9 billion takeover of Target's pharmacy business June 16 and a $12.7 billion acquisition of Omnicare Inc. last month.
Norman de Greve to Join CVS Health as Chief Marketing Officer, Effective July 15, 2015
Jun 23 15
CVS Health announced that Norman de Greve will join CVS Health as Chief Marketing Officer, effective July 15, 2015. In this role, de Greve will be accountable for marketing strategy across the enterprise. Currently, President of the Boston and Detroit offices of DigitasLBi, de Greve has deep experience in cross-channel communications planning, brand campaigns, media, loyalty and analytics in some of the most competitive industries, such as financial services, health care, travel, retail and automotive.