Incoming CVS Health President and CEO reacts to President-Elect Biden’s COVID-19 update

Top of the article

WOONSOCKET, R.I. — The following is attributed to Karen S. Lynch, currently Executive Vice President, CVS Health and President, Aetna, who will become the company's next President and CEO on February 1:

“We agree with President-elect Biden that pharmacies will play a critical role in the next phase of the COVID-19 vaccine rollout and appreciate his leadership in the pandemic response. CVS Health has more than 90,000 trained health care professionals standing by, with the capacity to administer approximately one million shots per day through our 10,000 CVS Pharmacy locations across the country once the federal program is fully activated. This will build on our success in providing vaccines to one of the nation’s most vulnerable populations, having administered more than one million shots at long-term care facilities to date.

“We also agree that despite the growing availability of vaccines, wearing a mask, maintaining safe distances and avoiding crowds remain the best ways to slow the spread. These guidelines are based on sound science and will be critical for months to come.”

 

About CVS Health

CVS Health is a different kind of health care company. We are a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, we are meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, our diversified model engages one in three Americans each year. From our innovative new services at HealthHUB® locations, to transformative programs that help manage chronic conditions, we are making health care more accessible, more affordable and simply better. Learn more about how we're transforming health at www.cvshealth.com.

Media contact

T.J. Crawford
212-457-0583
crawfordt2@aetna.com

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
3
Display Hero
Off
Topics
Audience

CVS Health launches Symphony™ to support senior safety at home and enhance caregiver peace of mind

Top of the article

WOONSOCKET, R.I. — CVS Health (NYSE:CVS) recently introduced the Symphony™ medical alert system to help caregivers monitor the safety and well-being of loved ones, even from afar. 

This collection of in-home and wearable devices offers a new at-home experience by connecting a suite of sensors that can monitor for falls, motion, and room temperature while also providing a 24/7 personal emergency response platform for use when needed. Symphony is designed to support the growing number of seniors choosing to maintain an independent lifestyle at home, as well as those involved in their care.

“We’re committed to helping consumers on their path to better health and new consumer health innovations like Symphony can help give caregivers peace of mind as they monitor a loved one’s safety and well-being through a truly differentiated connected health approach,” said Adam Pellegrini, SVP of Enterprise Virtual Care & Consumer Health at CVS Health.

The center of the Symphony ecosystem is the voice-activated Smart Hub which enables hands-free calls with caregivers or emergency responders, while also monitoring motion, temperature, and air quality within the home.

Symphony features a free app for caregivers that provides alerts for falls or other emergencies and assists with facilitating care coordination. Additionally, smart algorithms within the app track and alert caregivers when normal conditions, such as average room temperature or air quality, are disrupted, suggesting when the caregiver may want to check in with their loved one.

Designed to fit a family’s specific needs and adapt to a variety of homes, two easy-to-use Symphony device options are available: the Basic Bundle and Essential Bundle. While both systems come equipped with the Smart Hub and a wearable care button, the Essential Bundle also includes motion sensors and a voice-activated Fall Sensor to automatically detect falls in the bathroom, where the majority of accidents occur. Complementary devices are available for both bundles if desired, including additional motion sensors to extend the range of coverage in larger homes, and entry sensors for use on doors, cabinets or windows.

Pricing starts at $149.99 for the Symphony Basic Bundle and $249.99 for the Essential Bundle. A monthly service fee is required, although no long-term contract is needed to activate. Once activated, each Symphony bundle can help support safety at home as well as in the event of an emergency. Customers can find Symphony available now at CVS HealthHUB® locations or online at cvs.com/symphony.

About CVS Health

CVS Health is a different kind of health care company. We are a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, we are meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, our diversified model engages one in three Americans each year. From our innovative new services at HealthHUB® locations, to transformative programs that help manage chronic conditions, we are making health care more accessible, more affordable and simply better. Learn more about how we're transforming health at www.cvshealth.com.

Media contact

Carissa Falzarano
617-733-6189
falzaranoc@aetna.com

The CVS Health Symphony™ medical alert system, seen with its Smart Hub and additional accessories.
Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
3
Display Hero
On
Campaign
CSR Pillars

CVS Health collaborates with Cancer Treatment Centers of America to provide in-home chemotherapy

Top of the article

Coram, CVS Health’s infusion care business, will administer cancer treatment at home for eligible CTCA patients

Home-based chemotherapy is a convenient, accessible way to help avoid unnecessary risk or exposure to COVID-19 from inpatient or in-office cancer care

Woonsocket, R.I. — CVS Health (NYSE: CVS) announced today it is working with Cancer Treatment Centers of America® (CTCA) to increase access to chemotherapy at home for eligible, fully insured patients. Together, the companies are focused on minimizing patient exposure to COVID-19 from inpatient or hospital outpatient settings during the ongoing pandemic while ensuring continuity of critical cancer care. The program leverages Coram’s home infusion capabilities, coupled with training in chemotherapy administration based on Oncology Nursing Society guidelines, harnessing CTCA’s expertise as a top oncology care provider to give patients who may have delayed their care due to COVID-19 the flexibility to receive treatment from the safety and comfort of home. 

“The COVID-19 pandemic has created new challenges for immunocompromised patients with cancer looking for ways to safely continue their care, while minimizing their exposure to the virus,” said Sree Chaguturu, M.D., Chief Medical Officer of CVS Caremark and CVS Specialty. “This collaborative arrangement with Cancer Treatment Centers of America allows us to combine our unique expertise in home infusion and clinical oncology to help more patients access treatment from the safety of their home.”

Clinically eligible and fully insured CTCA patients with a range of cancers, including breast cancer, lung cancer, prostate cancer, colorectal cancer, head and neck cancers, and some genitourinary cancers on particular chemotherapy/immunotherapy medications, will begin their first cycles of infused chemotherapy in the hospital or outpatient care center, and, if tolerated over a number of months, can be transitioned home for continued infusions. Once home, patients will receive in-home Coram nurse visits to administer the therapy, paired with regular telehealth visits and digital therapeutic check-ins with their CTCA clinician, care team, pharmacists and other clinical staff as needed. More information is available at www.cancercenter.com/oncology-clinic-at-home.

“Putting patients first has been our philosophy for over 30 years, and working together with CVS is an extension upon in which we can better meet their needs, especially in light of a pandemic. For a variety of reasons, COVID-19 has caused far too many people to skip or delay treatments. We’re seeing a 50% reduction in infusions, and, while a slight delay in treatments may have been appropriate at the pandemic’s onset, data is now pointing to increased mortality risk with every month of delayed care,” said Dr. Chevon M. Rariy, M.D., CTCA telehealth program director. “We’re proud to be working with Coram to provide home infusion of cancer treatment that prioritizes the safety of patients, their families and health care workers.” 

In collaboration with CTCA and their approach to quality, safe care, coupled with more than 35 years of infusion expertise, Coram has the ability to reach 97 percent of the U.S. population. The program is being piloted in the Atlanta market and will expand to other geographies over the next few months to help increase access to important home-based cancer care during and beyond the pandemic. More information on the steps that CVS Health is taking to address the COVID-19 pandemic is available at the company's frequently updated COVID-19 resource center.

About CVS Health

CVS Health is a different kind of health care company. We are a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, we are meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, our diversified model engages one in three Americans each year. From our innovative new services at HealthHUB locations, to transformative programs that help manage chronic conditions, we are making health care more accessible, more affordable and simply better. Learn more about how we're transforming health at www.cvshealth.com.

About Cancer Treatment Centers of America

Cancer Treatment Centers of America® (CTCA) is a national oncology network of hospitals and outpatient care centers offering an integrated approach that combines surgery, radiation, chemotherapy, immunotherapy and advancements in precision medicine with supportive therapies to manage side effects and enhance quality of life during treatment and into survivorship. CTCA® publishes treatment results bi-annually including patient experience, length of life, quality of life, patient safety and quality of care. CTCA also offers qualified patients a range of clinical trials that may reveal new treatment options supported by scientific and investigational research. CTCA patient satisfaction scores consistently rank among the highest for all cancer care providers in the country. Visit cancercenter.com for more information.

Media contact

Maggie Naples
CVS Health
401-302-2390
maggie.naples@cvshealth.com

A female patient is seen in her kitchen, conferencing on a video chat with her health care provider.
Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
3
Display Hero
On
CSR Pillars
Audience

CVS Health names Laurie Havanec Chief People Officer

Top of the article

Veteran HR pro will bring a people-first approach to help advance the company's culture

WOONSOCKET, R.I. — CVS Health (NYSE: CVS) today announced that Laurie Havanec will join the company as Executive Vice President and Chief People Officer, effective February 8, 2021. Havanec will succeed Lisa Bisaccia who is retiring after 16 years at the company.

"Laurie is an innovative leader who brings a wealth of experience partnering with executive teams to build strategic, people-focused human resources strategy," said Karen S. Lynch, who will become President and CEO of CVS Health on February 1. "Laurie will lead talent and culture initiatives that support our business strategy, and she will also play a central role in helping to inspire and engage all 300,000 employees across CVS Health."

Havanec joins CVS Health with a distinguished career of over 20 years, most recently serving as Executive Vice President and Chief People Officer of Otis Worldwide Co., the world's leading company for elevator and escalator maintenance, installation and service. She's an experienced HR professional who has worked across all human resources functions including talent development, diversity, equity and inclusion, compensation and benefits, labor and employee relations, and HR systems, shared services and operations.

Before joining Otis, Havanec served as Corporate Vice President of Talent and HR at United Technologies Corporation (UTC) where together with her team, she transformed and modernized the company's talent agenda and priorities. She championed technology and new ways of thinking to create industry-leading practices in engagement, recruitment and performance. Laurie was also a senior HR leader at Aetna.

"It's been said that businesses don't create value; people do. That's why I'm honored to join CVS Health at such a critical time in the company's history. In partnership with our business and HR leadership teams, I look forward to building and maintaining a corporate environment that enables us to achieve our vision to transform health care for consumers across the nation," said Havanec.

Havanec will become a member of the company's executive leadership team and report to Lynch. She has a BS in Marketing and a JD, both from the University of Connecticut.

About CVS Health

CVS Health is a different kind of health care company. We are a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, we are meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, our diversified model engages one in three Americans each year. From our innovative new services at HealthHUB locations, to transformative programs that help manage chronic conditions, we are making health care more accessible, more affordable and simply better. Learn more about how we're transforming health at www.cvshealth.com.

Media contact

Ethan Slavin
860-273-6095
SlavinE@Aetna.com

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
1
Display Hero
Off
Topics
CSR Pillars
Audience

CVS Health names Michelle Peluso as first-ever Chief Customer Officer

Top of the article

New executive leadership role will further advance company’s consumer-centric strategy

WOONSOCKET, R.I. — CVS Health (NYSE: CVS) today announced that Michelle Peluso will join the company as Chief Customer Officer effective January 25. In this newly created executive leadership role, Peluso will be responsible for transforming the consumer experience and accelerating CVS Health's digital strategy. Peluso will have direct oversight for CVS Health's marketing and brand strategy, digital transformation and the end-to-end consumer experience.

"Michelle is a seasoned executive with a strong track record in building a world-class consumer experience and delivering results," said Karen S. Lynch, who will become President and CEO of CVS Health on February 1. "Michelle's consumer focus will accelerate our work to ensure a connected health experience across all CVS Health touchpoints, as we continue to reshape health care as we know it today."

Peluso brings 25 years of experience to CVS Health. In her most recent role, as Senior Vice President, Digital Sales and Chief Marketing Officer for IBM, she oversaw marketing and brand strategy and execution, digital sales, and the commercial business, with responsibility for over $5 billion in revenue globally. She was also responsible for the company's client experience, establishing and leading a significant increase in Net Promotor Score across IBM during her tenure, with an emphasis on accelerating IBM's digital capabilities. Peluso previously served as Chief Consumer Marketing and Internet Officer for Citigroup, leading the bank's award-winning digital transformation, and as Chief Executive Officer for two successful online platforms: Gilt Groupe and travelocity.com. She was also a White House Fellow and Senior Advisor to Secretary of Labor Alexis Herman. She has long been a noted and passionate advocate for women, diversity, and inclusion.

"I'm thrilled to join CVS Health and to help lead its purpose of helping people on their path to better health by giving every customer a connected experience that better meets their needs. COVID-19 has accelerated changes to health care delivery, and CVS Health's diversified offerings give it an unparalleled opportunity to lead the way in providing customers with a personalized and seamless experience at every interaction," said Peluso.

Peluso will become a member of the company's executive leadership team and report to Lynch. She has a BS in Economics from the University of Pennsylvania's Wharton School of Business and a MA from Pembroke College at Oxford University. She is a member of the Board of Directors at Nike, Inc., the Ad Council, and is on the Executive Council of the Board of Directors of the Association of National Advertisers. She's been named as one of the "World's Most Influential CMOs" by Forbes, one of the world's "Most Creative People" by Fast Company, and a 2020 "Woman of Power and Influence" by the National Organization for Women.

About CVS Health

CVS Health is a different kind of health care company. We are a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, we are meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, our diversified model engages one in three Americans each year. From our innovative new services at HealthHUB locations, to transformative programs that help manage chronic conditions, we are making health care more accessible, more affordable and simply better. Learn more about how we're transforming health at www.cvshealth.com.

Media contact

Ethan Slavin
860-273-6095
SlavinE@Aetna.com

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
26
Display Hero
On
Topics
Audience

CVS Health provides update on COVID-19 vaccinations in long-term care facilities

Top of the article

Company is on track based on federal partnership agreement, with shots in arms increasing daily

WOONSOCKET, R.I., Jan. 6, 2021/PRNewswire/ -- CVS Health (NYSE: CVS) is now administering COVID-19 vaccines in skilled nursing facilities in 49 states, with the rollout beginning in 36 states and Washington, D.C. last week. Start dates were as follows:

  • December 21: Connecticut, Florida, Kentucky, Maine, Nevada, New Hampshire New York, Ohio, Oklahoma, Oregon, Vermon
  • December 23: Maryland
  • December 28: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Delaware, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New Mexico, North Carolina, North Dakota, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Washington, D.C, Wisconsin
  • January 4: Puerto Rico, Wyoming
     

Start dates were chosen by each state, in addition to which types of long-term care facilities to activate first. The most at-risk patients were prioritized; of the approximately 15,000 skilled nursing facilities nationwide, nearly 8,000 chose to partner with CVS Health. The company expects to complete administration of first doses in skilled nursing facilities by January 25, consistent with timelines originally shared with states and provided by the Centers for Disease Control and Prevention (CDC).

States will have activated nearly 31,000 assisted living facilities partnering with CVS Health by next week, with first doses administered in all facilities within three to four weeks of start dates. Activation dates at the remaining nearly 8,000 CVS Health partner facilities have yet to be determined by states.

"Our work with long-term care facilities isn't a mass vaccination effort quite the opposite," said Larry J. Merlo, President and Chief Executive Officer, CVS Health. "We're dealing with a vulnerable population that requires onsite and, in some cases, in-room visits at facilities with fewer than 100 residents on average. Despite these challenges we remain on schedule, and the number of vaccines we administer will continue to rise as more facilities are activated by the states."

CVS Pharmacy teams will make three visits to each long-term care facility to ensure residents and staff receive their initial shot and critical booster. Most residents and staff will be fully vaccinated three to four weeks after the first visit, depending on which vaccine they receive.

CVS Health has been following COVID-19 vaccination reporting protocols to state immunization registries and the CDC, but what is shared publicly is typically outdated by 48 72 hours. The company will now make national and state-level figures available here, with weekday updates at approximately 4 p.m. ET. While uptake among residents remains encouragingly high, the actual number of residents is approximately 20 30 percent lower than facility projections that were based on bed count. Initial uptake among staff is low, part of which is likely due to facilities wanting to stagger vaccinations between visits.

Per an agreement with the Department of Health and Human Services, COVID-19 vaccines will eventually be available at all CVS Pharmacy locations throughout the country subject to product availability and prioritization of populations, which will be determined by states. No vaccines are currently available at CVS Pharmacy locations, but the company is in discussions with several states to make a limited number of doses available in the coming weeks in advance of the broader rollout. Vaccines in a retail setting will be offered on an appointment-only basis via CVS.com or through the CVS Pharmacy app, and there will be a dedicated 800 number for people without online access. CVS Pharmacy has the capacity to administer 20 - 25 million shots per month.

Multimedia assets, including b-roll and still photography, are available here. More information on steps CVS Health has taken to address the pandemic is available at the company's frequently updated COVID-19 resource center.

About CVS Health

CVS Health is a different kind of health care company. We are a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, we are meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, our diversified model engages one in three Americans each year. From our innovative new services at HealthHUB locations, to transformative programs that help manage chronic conditions, we are making health care more accessible, more affordable and simply better. Learn more about how we're transforming health at www.cvshealth.com.

Media contact

T.J. Crawford
212-457-0583
crawfordt2@aetna.com

Vaccine administering at a long term care facility
Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
11
Display Hero
On
Audience

CVS Health Corporation Announces Quarterly Dividend

Top of the article

WOONSOCKET, R.I., — CVS Health Corporation (NYSE: CVS) today announced that its board of directors has approved a quarterly dividend of $0.50 (50 cents) per share on the corporation’s common stock. The dividend is payable on February 1, 2021, to holders of record on January 22, 2021.

Investor contact

Valerie Haertel
Senior Vice President
Investor Relations
(401) 770-4050

Media contact

T.J. Crawford
Vice President
External Affairs
(212) 457-0583

About CVS Health

CVS Health is a different kind of health care company. We are a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, we are meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, our diversified model engages one in three Americans each year. From our innovative new services at HealthHUB® locations, to transformative programs that help manage chronic conditions, we are making health care more accessible, more affordable… and simply better. Learn more about how we're transforming health at www.cvshealth.com.

An exterior view of an unknown CVS Pharmacy store location.
Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
2
Display Hero
On
Audience

CVS Health to present at the 39th annual J.P. Morgan Healthcare Conference

Top of the article

WOONSOCKET, R.I. — CVS Health Corporation (NYSE: CVS) today announced that President and Chief Executive Officer Larry Merlo, Executive Vice President and Chief Financial Officer Eva Boratto, and Executive Vice President and President, Aetna Karen Lynch, who will become the company's next President and CEO on February 1, will participate in a fireside chat with investors at the J.P. Morgan 39th Annual Healthcare Conference on January 12, 2021, at approximately 10:50 a.m. ET. Ms. Lynch will also be participating in the vaccine panel discussion scheduled for approximately 12:45 AM ET on January 13, 2021.

About CVS Health

CVS Health is a different kind of health care company. We are a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, we are meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, our diversified model engages one in three Americans each year. From our innovative new services at HealthHUB locations, to transformative programs that help manage chronic conditions, we are making health care more accessible, more affordable and simply better. Learn more about how we're transforming health at www.cvshealth.com.

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
3
Display Hero
Off
Audience

CVS Health Corporation announces pricing of tender offers

Top of the article

WOONSOCKET, R.I. — CVS Health Corporation (“CVS Health”, NYSE: CVS) announced today the applicable Reference Yields and Total Consideration (each as summarized in the table below) to be paid in connection with the previously announced cash tender offers (each, a “Tender Offer” and collectively, the “Tender Offers”) for (i) up to $1,500,000,000 aggregate principal amount (the “2023 Notes Maximum Amount”) of its 4.000% Senior Notes due 2023 and 3.700% Senior Notes due 2023 and the 2.800% Senior Notes due 2023 issued by its wholly-owned subsidiary, Aetna Inc. (collectively, the “2023 Notes”) in the priorities set forth in the Offer to Purchase (as defined below) (the “2023 Notes Tender Offers”), (ii) up to $1,049,919,000 aggregate principal amount (the “2025 Notes Maximum Amount”) of its 4.100% Senior Notes due 2025 and 3.875% Senior Notes due 2025 (collectively, the “2025 Notes”) in the priorities set forth in the Offer to Purchase (the “2025 Notes Tender Offers”) and (iii) up to $1,950,081,000 principal amount (the “2028 Notes Maximum Amount” and, together with the 2023 Notes Maximum Amount and the 2025 Notes Maximum Amount, the “Maximum Amounts”) of its 4.300% Senior Notes due 2028 (the “2028 Notes”, and, together with the 2023 Notes and the 2025 Notes, the “Notes”). Each group of Tender Offers that constitutes the 2023 Notes Tender Offers, the 2025 Notes Tender Offers or the 2028 Notes Tender Offer are referred to as the “Capped Tender Offers”. The sum of the 2023 Notes Maximum Amount, the 2025 Notes Maximum Amount and the 2028 Notes Maximum Amount is $4,500,000,000 (the “Aggregate Maximum Amount”), which represents the aggregate principal amount of the Notes subject to the Tender Offers and excludes any Accrued Interest (as defined below) or Early Tender Payment (as defined below). The Tender Offers are being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated December 7, 2020 (as amended or supplemented from time to time, the “Offer to Purchase”), which sets forth a detailed description of the Tender Offers. The Tender Offers are open to all registered holders (individually, a “Holder” and collectively, the “Holders”) of the Notes.

The applicable Reference Yield for the Notes and the Total Consideration for the Notes are summarized in the table below:

Reference Yield for the Notes and the Total Consideration for the Notes

The Total Consideration for each $1,000 principal amount of the Notes was determined in the manner described in the Offer to Purchase by reference to the applicable fixed spread set forth in the table above plus the yield to maturity or first par call date, as the case may be, of the applicable U.S. Treasury reference securities (the “UST Reference Security”) set forth in the table above on the bid-side price of such UST Reference Security as of 9:00 a.m., New York City time, on December 21, 2020.

The Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on December 18, 2020 (the “Early Tender Date”) will be eligible to receive the applicable Total Consideration, which includes the Early Tender Payment of $30 per $1,000 principal amount of Notes.

CVS Health expects to accept for purchase and make payment for Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date on December 22, 2020 (the “Early Settlement Date”).

Holders of all Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date and accepted for purchase are eligible to receive the applicable Total Consideration, which includes the applicable Early Tender Payment of $30 per $1,000 principal amount of Notes tendered at or prior to the Early Tender Date (the “Early Tender Payment”). In addition to the applicable Total Consideration, Holders of Notes accepted for purchase will receive accrued and unpaid interest up to, but not including, the Early Settlement Date (“Accrued Interest”).

Because the aggregate principal amount of 2023 Notes validly tendered would exceed the 2023 Notes Maximum Amount, CVS Health expects that it will accept validly tendered 3.700% Senior Notes due 2023 on a prorated basis in accordance with the Offer to Purchase and none of the validly tendered 2.800% Senior Notes due 2023. Because the aggregate principal amount of 2025 Notes validly tendered would exceed the 2025 Notes Maximum Amount, CVS Health expects that it will accept all of the validly tendered 4.100% Senior Notes due 2025 and none of the 3.875% Senior Notes due 2025. Because the principal amount of 2028 Notes validly tendered would exceed the 2028 Notes Maximum Amount, CVS Health expects that it will accept validly tendered 4.300% Senior Notes due 2028 on a prorated basis in accordance with the Offer to Purchase.

Because CVS Health expects to accept for purchase the Maximum Aggregate Amount of Notes, no additional Notes will be purchased pursuant to the Tender Offers after the Early Settlement Date. In connection with the recent announcement by the U.S. government that executive departments and agencies of the federal government will be closed on December 24, 2020, the expiration date (the “Expiration Date”) will be changed from 11:59 p.m., New York City time, January 5, 2021 to 11:59 p.m., New York City time, January 6, 2021. As described in the Offer to Purchase, Notes tendered and not accepted for purchase will be promptly returned to the tendering Holder’s account.

CVS Health expressly reserves the right, in its sole discretion, subject to applicable law, to terminate the Tender Offers at any time prior to the Expiration Date. The Tender Offers are not conditioned on any minimum principal amount of Notes being tendered but the Tender Offers are subject to certain conditions as described in the Offer to Purchase. Each Tender Offer is a separate offer. None of the Capped Tender Offers are conditioned on each other. Each Tender Offer may be individually amended, extended or terminated by CVS Health.

CVS Health has retained Barclays Capital Inc., BofA Securities, Inc. and Goldman Sachs & Co. LLC to act as Dealer Managers for the Tender Offers. D.F. King & Co., Inc. has been retained to act as the Tender and Information Agent for the Tender Offers. Requests for assistance relating to the procedures for tendering Notes may be directed to the Tender and Information Agent either by email at cvs@dfking.com, or by phone (212) 269-5550 (for banks and brokers only) or (800) 714-3305 (for all others toll free). Requests for assistance relating to the terms and conditions of the Tender Offers may be directed to Barclays Capital Inc. at (800) 438-3242 (toll free) or (212) 528-7581 (collect), BofA Securities, Inc. at (980) 387-3907 (collect) or Goldman Sachs & Co. LLC at (212) 902-6351 (collect). Beneficial owners may also contact their broker, dealer, commercial bank, trust company or other nominee for assistance.

This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders with respect to, the Notes. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. The Tender Offers are being made solely pursuant to the Offer to Purchase made available to Holders of the Notes. None of CVS Health, the Dealer Managers, Tender and Information Agent or the trustees with respect to the Notes, or any of their respective affiliates, is making any recommendation as to whether or not Holders should tender or refrain from tendering all or any portion of their Notes in response to the Tender Offers. Holders are urged to evaluate carefully all information in the Offer to Purchase, consult their own investment and tax advisers and make their own decisions whether to tender Notes in the Tender Offers, and, if so, the principal amount of Notes to tender.

Investor contact

Valerie Haertel
Senior Vice President
Investor Relations
(401) 770-4050

Media contact

T.J. Crawford
Vice President
External Affairs
(212) 457-0583

About CVS Health

CVS Health is a different kind of health care company. We are a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, we are meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, our diversified model engages one in three Americans each year. From our innovative new services at HealthHUB® locations, to transformative programs that help manage chronic conditions, we are making health care more accessible, more affordable… and simply better. Learn more about how we're transforming health at www.cvshealth.com.

Cautionary Statement Concerning Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of CVS Health Corporation. By their nature, all forward-looking statements are not guarantees of future performance or results and are subject to risks and uncertainties that are difficult to predict and/or quantify. Actual results may differ materially from those contemplated by the forward-looking statements due to the risks and uncertainties related to the COVID-19 pandemic, the geographies impacted and the severity and duration of the pandemic, the pandemic's impact on the U.S. and global economies and consumer behavior and health care utilization patterns, and the timing, scope and impact of stimulus legislation and other federal, state and local governmental responses to the pandemic, as well as the risks and uncertainties described in our Securities and Exchange Commission filings, including those set forth in the Risk Factors section and under the heading "Cautionary Statement Concerning Forward-Looking Statements" in our most recently filed Annual Report on Form 10-K, our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2020 and our recently filed Current Reports on Form 8-K.

You are cautioned not to place undue reliance on CVS Health's forward looking statements. CVS Health's forward-looking statements are and will be based upon management's then-current views and assumptions regarding future events and operating performance, and are applicable only as of the dates of such statements. CVS Health does not assume any duty to update or revise forward-looking statements, whether as a result of new information, future events, uncertainties or otherwise.

Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
0
Display Hero
Off
CSR Pillars
Audience

IlliniCare Health rebrands to Aetna Better Health of Illinois

Top of the article

CHICAGO — Aetna Better Health, a CVS Health company, today announced IlliniCare Health, a Medicaid managed care plan that serves members across Illinois, has officially rebranded and changed its name to Aetna Better Health of Illinois (ABH-IL). Materials for plan year 2021 will reflect the new Aetna Better Health of Illinois name.

Aetna Better Health of Illinois offers quality, affordable health care to individuals through the state’s HealthChoice Illinois Medicaid program. The National Committee for Quality Assurance (NCQA) recently awarded Aetna Better Health of Illinois accreditation status and the health plan’s Long-Term Services and Supports (LTSS) program received LTSS distinction with a nearly perfect score.

"As part of the Aetna Better Health family of health plans, we will continue providing our members with access to quality care and supporting them on their path to better health," said Kim Foltz, CEO, Aetna Better Health of Illinois. "We also remain dedicated to working with the State of Illinois, our providers and community-based organizations to deliver efficient, effective, person-centered care that drives improvements in service delivery, member experience and quality outcomes."

During the brand transition, there will be no changes to member coverage or to their points of contact. Members began receiving rebranded plan materials with the Aetna logo, including new member identification cards, in late November.

Aetna Better Health of Illinois employs over 900 associates, with most located in the state, and serves nearly 400,000 members in 102 counties.

About Aetna Medicaid

Aetna Medicaid Administrators LLC (Aetna Medicaid), a CVS Health business, has over 30 years of experience managing the care of the most medically vulnerable, using innovative approaches and a local presence in each market to achieve both successful health care results and effective cost outcomes. Aetna Medicaid has particular expertise serving high-need Medicaid members, including those who are dually eligible for Medicaid and Medicare. Currently, Aetna Medicaid owns and/or administers Medicaid managed health care plans under the names of Aetna Better Health and other affiliate names. Together, these plans serve approximately 2.6 million people in 16 states, including Arizona, California, Florida, Illinois, Kansas, Kentucky, Louisiana, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, Virginia, West Virginia, and Texas. For more information, see www.aetnabetterhealth.com.

A family of four lying in a circle on the floor wearing masks looking up at the camera
Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
2
Display Hero
On
Campaign
CSR Pillars
Locations
Audience