(NEXSTAR) – CVS Health announced Thursday that it will close “select” pharmacies at Target stores.
The closures will occur in early 2024, starting in February and ending in April, CVS senior communications director Amy Thibault said in a statement to Nexstar. Employees at these locations “will be offered comparable roles within the company.”
The exact number of locations involved is not yet clear, but the Wall Street Journal reported that the plan includes “dozens” of pharmacies.
CVS is not sharing a list of closure locations and all prescriptions will be forwarded to a nearby CVS Pharmacy beforehand “to ensure patients have uninterrupted access to pharmacy care.”
Your salary could be a little higher this year even without a raise: Here's why
Thibault said the closures are part of a plan to “realign our nationwide retail presence and reduce store and pharmacy density.” She said the decision came after CVS assessed changes in the population, purchasing patterns and future healthcare needs while trying to match the right pharmacy format with the right patient locations.
CVS isn't the only pharmacy company closing locations: Rite Aid announced last October that it would be closing more than 150 locations. In June 2023, Walgreens announced it would close 150 stores in the US and another 300 in the UK
In 2021, CVS itself announced that it would close 900 stores within three years, also citing “changes in the population, consumer purchasing behavior and future healthcare needs.”
CVS Health bought Target's pharmacy and clinic business in 2015 for about $1.9 billion. The first deal brought 1,672 pharmacies ac
Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.