CVS Health deploys a new and smaller pharmacy format in 2025 in hundreds of pharmacies … (+)
CVS Health deploys new and smaller pharmacy formats in hundreds of pharmacie closings through industry and investor pressure to increase profits.
CVs this year will deploy “smaller format” locations in at least a dozen sites, the Wall Street Journal reported the weekend. This occurs while the main rival of CVS, Walgreens Boots Alliance, operates on a financial turnar, closes hundreds of stores and is preparing for private property after Walgreens last week announced a sale of $ 10 billion to Sycamore partners.
“We plan to open a dozen or more places of CVS pharmacy in format or more in certain communities nationwide over the next year,” CVS confirmed in a statement on Sunday. “New pharmacies will be introduced in selected areas to help fill the gaps in care and facilitate access to drugs, vaccinations and other health care services provided by pharmacists.”
New and smaller formats are not new for CVS or Walgreens, which opened “small stores” in 2019.
But the push for new sizes and formats has taken more emergency because the two companies have a large debt and an exaggerated return from flat pressure or downward sales of general goods at the front of their stores.
Meanwhile, the two companies have or praise real estate and do not need as much space in their stores as more Americans buy online and traditional pharmacies like CVS, Rite Aid and Walgreens are faced with more pressure from Amazon as well as developments in technology and prescription distribution that give patients less to come to a store.
CVS has already reformed the stores they have closed to include a traditional pharmacy as well as A center for the elderly who includes medical care providers, social workers and community activities operated by Oak Street Health, which CVS paid $ 10 billion for two years ago.
CVS claims that the smaller pharmacy format is in accordance with a “personalized approach” of its “imprint which focuses on the specific needs of the communities that we serve” and to “better support the patient and ensure good geographic coverage”.
CVS closed 900 stores between 2022 and 2024 and plans to close 270 others this year. Meanwhile, Walgreens is closing 1,200 of its 8,500 stores in the United States for three years. And jLast year, Rite Aid appeared Federal protection of bankruptcy as a more regional pharmacy chain operating in 16 states after losing more than 500 stores during the bankruptcy procedure.
However, CVS said that the store closes does not mean the release of the markets and that 85% of Americans still live less than 10 miles from its retail pharmacies. The company also opened pharmacies, including 100 stores between 2022 and 2024 and plans to open nearly 30 CVS pharmacy locations, including those inside Target stores, in 2025, in addition to new small pharmacies, “said the company.
“We plan to open a dozen or more places of CVS pharmacy in or more in certain communities nationwide over the next year,” CVS said in its press release. “New pharmacies will be introduced in certain districts to help fill the gaps in care and facilitate access to drugs, vaccinations and other health care services provided by pharmacists. Each location on average less than 5,000 square feet, will include a full service pharmacy with free -free limited products available for purchase and will be designed to meet the specific pharmacy needs of the community. »»