cvs health corp (CVS) Key Developments
CVS Health Corporation, Omnicare Inc. - M&A Call
May 21 15
To enter into a definitive agreement to acquire Omnicare
CVS Health Corporation Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-13-2015 08:40 AM
May 7 15
CVS Health Corporation Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-13-2015 08:40 AM. Venue: Encore at the Wynn, 3131 S Las Vegas Blvd, Las Vegas, Nevada, United States. Speakers: Eva C. Boratto, Chief Accounting Officer, Senior Vice President and Controller, Jonathan C. Roberts, Executive Vice President and President of CVS Caremark.
CVS Health Corporation Plans to Add New Stores
May 1 15
CVS Health Corporation plan to add about 150 net new stores for the full year 2015, equating to an anticipated increase in retail square footage growth of around 2%.
CVS Health Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter; Revises Earnings Guidance for the Year 2015
May 1 15
CVS Health Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, net revenues were $36,332 million against $32,689 a million a year ago. Operating profit was $2,132 million against $2,024 million a year ago. Income before income tax provision was $1,998 million against $1,866 million a year ago. Net income was $1,221 million or $1.07 per diluted share against $1,129 million or $0.95 per diluted share a year ago. Net cash provided by operating activities was $1,984 million against $2,172 million a year ago. Purchases of property and equipment were $419 million against $388 million a year ago. Adjusted income before income tax provision was $2,127 million against $1,997 million a year ago. Adjusted net income was $1,294 million against $1,208 million a year ago. Adjusted earnings per share were $1.14 against $1.02 a year ago. Free cash flow $1,590 million against $1,789 million a year ago. The company generated approximately $1.8 billion of free cash.
The company expects to deliver Adjusted EPS of $1.17 to $1.20 and GAAP diluted EPS from continuing operations of $1.10 to $1.13 in the second quarter of 2015.
The company raised the low end of its EPS guidance range for the full year 2015. The company now expects to deliver Adjusted EPS of $5.08 to $5.19, up from $5.05 to $5.19, and GAAP diluted EPS from continuing operations of $4.80 to $4.91, up from $4.77 to $4.91 in 2015. The company also continues to expect to deliver 2015 free cash flow of $5.9 billion to $6.2 billion, and 2015 cash flow from operations of $7.6 billion to $7.9 billion. The company expects Consolidated net revenue growth to be 7% to 8.25%.
CVS Health Enters into New Clinical Affiliations with Ochsner Health System in Louisiana and the University of Mississippi Medical Center
Apr 29 15
CVS Health announced it has entered into new clinical affiliations with Ochsner Health System in Louisiana and the University of Mississippi Medical Center, including their Center for Telehealth. These affiliations will help enhance access to high-quality, affordable health care services for patients. Through these clinical affiliations, CVS Health will provide prescription and visit information to the participating health care organizations through the integration of secured electronic health record (EHR) systems, which will help enhance clinical care for patients served by the partnering organizations. In addition, patients will continue to have access to clinical support, medication counseling, chronic disease monitoring and wellness programs at CVS/pharmacy stores and MinuteClinic, the retail medical clinic of CVS Health. CVS/pharmacy currently has more than 7,800 retail pharmacy locations across the U.S. where CVS pharmacists provide counseling to patients to help them be adherent to their chronic disease medications. In addition, MinuteClinic also plays an important role by providing patients with timely, affordable and high-quality walk-in health care. There are more than 900 MinuteClinic walk-in medical clinics available at CVS/pharmacy retail stores. MinuteClinic locations are open seven days a week, offering evening hours with no appointment necessary and most health insurance is accepted. The clinics are staffed by nurse practitioners and physician assistants who provide treatment for common family illnesses and administer wellness and prevention services, including health-condition monitoring for patients with chronic diseases. Affiliates' health care providers will receive data on interventions conducted by CVS pharmacists to improve medication adherence for their patients. The affiliation also encourages collaboration between the health care providers and MinuteClinic providers to improve coordination of care for patients seen at MinuteClinic locations. Physicians affiliated with the participating organizations will collaborate with MinuteClinic practitioners to work closely on joint clinical programs and care coordination activities. If more comprehensive care is needed, patients can follow up with their primary care provider and have access to the services at the medical center as appropriate. For those patients who do not have regular access to health care, MinuteClinic provides information to help patients in finding a primary care physician and a greater opportunity for continuity of health care services. MinuteClinic, CVS/pharmacy and the participating health care organizations will begin to work toward integrating EHR systems to streamline and enhance communication. This integration will include the electronic sharing of messages and alerts from CVS/pharmacy to the health care organizations' physicians regarding medication non-adherence issues. In addition, MinuteClinic will electronically share patient visit summaries with the patient's primary care physician when they are part of an affiliate organization and with the patient's consent. MinuteClinic will continue its standard practice of sending patient visit summaries to primary care providers who are not affiliated with one of these participating health care organizations via fax or mail, with patient consent. The new clinical affiliations announced here bring the total number of health system and health care provider affiliations for CVS Health and MinuteClinic to more than 50 major health systems and health care providers across the country.