Kicking off our commitment to address racial inequality

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Since announcing the company’s commitment to invest nearly $600 million over five years to address racial inequality, CVS Health has been focused on ways to further advance employee, community and public policy initiatives that address inequality faced by the Black community and other disenfranchised communities.

Because studies have shown that your zip code can have as much impact on your health as your genetic code, CVS Health is focusing on social determinants of health in Black and at-risk communities. Increasing access to housing and health care to assure all Americans, especially to those that are more at-risk, is imperative to improve health outcomes.

Most recently, the company kicked-off of this commitment with a $13.7 million investment to help renovate 230 low-income housing units at the Rosewind apartments in Columbus, Ohio. These funds will also be used to make significant improvements to the local community center and support new community programs in the area.

This investment builds on the company’s longstanding commitment to diversity, including social determinants of health, with a particular emphasis on increasing access to affordable housing, which is inextricably linked to health. Access to health care, housing and healthy food can significantly impact rates of chronic disease and other health outcomes, with average life spans varying by up to 20-30 years in communities that are just a few miles apart.

Within the Rosewind complex in the South Linden neighborhood of Columbus, 95% of residents are Black and have an average annual household income of less than $17,000.  Average life expectancy in South Linden is just under 70 years – more than seven years shorter than the average in all of Franklin County, which includes Columbus and certain neighboring communities. And there are 25.7 infant deaths per 1,000 live births in South Linden compared to the 8.5 infant deaths per 1,000 live births in Franklin County.

The renovations, as well as new community programming funded by CVS Health, will provide comprehensive local support to residents, including the following new on-site programs Health and Wellness programming, on-site health screenings and COVID-19 testing, an educational cooking series, community programs and maternal programs.

In addition, CVS Health will also establish a new program at Rosewind as part of its ongoing workforce initiatives to provide employment services and training to the community. These workforce development programs will focus on incorporating empowerment programs and build local partnerships that will help community members achieve meaningful employment opportunities.

Since 1997, CVS Health and Aetna, a CVS Health company, have invested more than $1 billion in affordable housing and community initiatives. In 2019, the company invested $67 million in affordable housing across the country, and the company plans to exceed that amount over the next five years to help address housing insecurities and promote community health improvement. Investments in affordable housing, as well as collaborations with community groups in these areas, help provide support to those who need it most.

Brick apartment building in the Rosewind community in Columbus, Ohio.
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Meeting the nutritional needs of a Midwestern community

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Harvesters The Community Food Network has served 26 counties in northwestern Missouri and northeastern Kansas for over 40 years by providing food and household products to more than 760 local partners, including food pantries, shelters, and community kitchens. As the impact of COVID-19 began to ripple across the country, they knew they were going to face unprecedented and unpredictable needs. As food donations decreased, food costs increased, and volunteers sheltered at home, they prepared to take action to ensure they continued to reach their community. Support from organizations like CVS Health, who provided a $20,000 grant to support their food distribution efforts, would prove critical.

As the pandemic set in, their nonprofit partners reported need increasing by 30 to 40 percent. In March and April, they distributed over 8.7 million pounds of food — an increase of 2.2 million pounds from the same time last year. And with supply chain challenges and reduced community donations, they found the cost to provide meals increased 300 percent. In response to these needs, Harvesters increased their distributions, including more mobile distributions, such as two “mega mobile” distributions that served over 16,000 people. And support from organizations like CVS Health filled the gap in food need: our donation provided 20,000 meals.

Within the community, their response has been welcomed. “It’s just been helpful having a variety of nutritious food and a clean and safe place to pick it up… I’m usually on the other side — giving,” said one client. “They’re so respectful here. They help you maintain your dignity.” We’re proud to support Harvesters and the quick response that allowed them to help this client, and thousands of others like her, get the food they needed throughout a difficult time.

Woman holding a wooden basket of fresh produce filled to the top.
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CVS Pharmacy signs agreement to acquire, rebrand and operate Schnucks Pharmacies

CVS Pharmacy signs agreement to acquire, rebrand and operate Schnucks Pharmacies
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CVS Pharmacy to acquire 110 pharmacies in Midwest

WOONSOCKET, R.I. — CVS Pharmacy, Inc., a subsidiary of CVS Health Corporation (NYSE: CVS), and Schnucks announced today that they have entered into a definitive agreement for CVS Pharmacy and certain of its subsidiaries to acquire Schnuck Markets Inc.'s retail and specialty pharmacy businesses.

Through this agreement, CVS Pharmacy and its subsidiaries will acquire and operate 99 of the grocer's pharmacies and will brand them as CVS Pharmacy. Additionally, CVS Pharmacy and its subsidiaries will acquire the prescription files from 11 Schnucks pharmacies and transfer them to nearby CVS Pharmacy locations.

This strategic relationship brings together one of the leading grocers in the Midwest region with CVS Pharmacy's innovative pharmacy services and clinical expertise to enhance the overall health care experience and continue to provide a convenient option for Schnucks customers. The relationship also provides CVS Health with a capital-efficient way to expand into key areas.

"We have great admiration for Schnucks and believe CVS Pharmacy can bring additional clinical services to its customers. One of CVS Health's strategic imperatives is to Be Local. By opening CVS Pharmacy locations within Schnucks stores, we're increasing access to high quality care and meeting customers where they are. Schnucks is a best-in-class grocer and we're honored to partner with them to bring our best-in-class pharmacy capabilities to their customers," said Jon Roberts, executive vice president and chief operating officer, CVS Health.

In 2014, CVS Pharmacy became the first and only major retail pharmacy to remove tobacco from its shelves. Schnucks stores became tobacco free as of January 1, 2020. Schnucks' decision to exit tobacco further aligns the company with CVS Health.

"As Schnucks continues to expand our emphasis on health and wellness, this collaboration with CVS is an opportunity for us to align with a company that has a similar focus," said Todd Schnuck, chairman and chief executive officer of Schnucks. "This partnership allows us to continue to provide quality pharmacy services to our customers in a manner they've come to expect, while supporting our mission to nourish people's lives. It also provides our pharmacy teammates an opportunity to further their careers with a premier retail pharmacy chain."

To provide continuity for Schnucks pharmacy customers, CVS Pharmacy will post all pharmacist and pharmacy technician positions, and will interview all Schnucks employees who apply. In-store changes will be rolled out over a period of several months after the completion of the transaction as CVS Pharmacy and Schnucks work to ensure the smoothest possible transition for all pharmacy patients.

Schnucks Specialty pharmacy patients will benefit from CVS Specialty's expertise in providing ongoing disease education, counseling and benefits verification, as well as coordination of care with multiple health care providers, comprehensive patient education and adherence management.

Following completion of the transaction, all Schnucks pharmacy customers will have access to CVS Pharmacy's leading pharmacy care programs, features of which include:

  • Opportunities for patients to manage their health with more ease and efficiency and gain access to programs that help them start and stay on their prescriptions while reducing overall health care costs. With the CVS Pharmacy app, patients can be notified when prescriptions are ready for pick-up and order refills digitally.

  • Simplification of medication management for patients with multiple prescriptions, through the utilization of the CVS Pharmacy ScriptPath Prescription Schedule, a tool that provides a complete picture of the patient's current CVS Pharmacy prescription information all in one place, including the name of each medication, when to take it, and how much medication to take in each dose.

The transaction is expected to be completed by end of the second quarter and is subject to customary closing conditions.

About CVS Health

CVS Health employees are united around a common goal of becoming the most consumer-centric health company in the world. We're evolving based on changing consumer needs and meeting people where they are, whether that's in the community at one of our nearly 10,000 local touchpoints, in the home, or in the palm of their hand. Our newest offerings from HealthHUB locations that are redefining what a pharmacy can be, to innovative programs that help manage chronic conditions are designed to create a higher-quality, simpler and more affordable experience. Learn more about how we're transforming health at http://www.cvshealth.com

About Schnucks

Founded in St. Louis in 1939, Schnuck Markets, Inc. is a third-generation, family-owned grocery and pharmacy retailer committed to nourishing people's lives. Schnucks operates 112 stores, serving customers in Missouri, Illinois, Indiana, Wisconsin, and Iowa, and employs 13,500 teammates. According to Forbes' 2019 rankings, Schnucks is the 155th largest privately-owned company in the United States and the 16th largest privately-owned grocer. Schnucks is committed to helping communities thrive and as a champion for reducing hunger, the company annually donates more than $16 million in food to pantries that help those in need. Follow Schnucks on Facebook at www.facebook.com/schnucks and LinkedIn at https://www.linkedin.com/company/schnuck-markets-inc-/.

Media Contact

Bill Durling
401-770-4029
William.durling@cvshealth.com

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