CVS planning to acquire or take stake in primary care company by end of the the year

CVS says it plans to acquire or take a stake in a primary-care company by the end of the year, as competition heats up with Amazon and Walgreens. CEO Karen Lynch said that the company wants to team up with a provider that has a strong management team and tech background and the ability to grow quickly.

CVS, has acquired insurer Aetna and pharmacy benefits manager Caremark. Customers can get vaccines or urgent care at MinuteClinic outposts inside of its stores. And the company keeps adding more health services to those locations, too — it recently introduced therapy for mental health at some stores.

CVS doesn’t have doctor offices where patients can go for an annual checkup or appointments with a physician or nurse practitioner, though.

Walgreens Boots Alliance is opening hundreds of doctor offices in partnership with VillageMD and became the majority owner of the company. 

Jeffrey Newman is a whistleblower lawyer with the firm Newman & Shapiro and can be reached at 978-880-4758 or Jnewman@NewmanShapiro.com