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 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 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

CVS Health Corporation announces early results and upsize of previously announced cash tender offers to an aggregate principal amount of $4,500,000,000 from $4,000,000,000 of certain outstanding notes

Top of the article

WOONSOCKET, R.I. — CVS Health Corporation ("CVS Health", NYSE: CVS) announced today the early results of the previously announced cash tender offers (each, a "Tender Offer" and collectively, the "Tender Offers") and that it is amending the Tender Offers by increasing the Aggregate Maximum Amount (as defined below) of the Tender Offers to $4,500,000,000 from $4,000,000,000 and by increasing the 2025 Notes Maximum Amount (as defined below) to $1,049,919,000 from $1,000,000,000 and the 2028 Notes Maximum Amount (as defined below) to $1,950,081,000 from $1,500,000,000. The Tender Offers, as amended, consist of (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 table below (the "2023 Notes Tender Offers"), (ii) up to $1,049,919,000 aggregate principal amount (as increased and amended, 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 table below (the "2025 Notes Tender Offers") and (iii) up to $1,950,081,000 principal amount (as increased and amended, 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 increased 2023 Notes Maximum Amount, the 2025 Notes Maximum Amount and the 2028 Notes Maximum Amount is $4,500,000,000 (as increased and amended, 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:

The consideration to be paid in the Tender Offers for each series of Notes validly tendered and expected to be accepted for purchase as described in the Offer to Purchase (the "Total Consideration") will be determined at 9:00 a.m., New York City time, on December 21, 2020.

As of 5:00 p.m., New York City time, on December 18, 2020 (the "Early Tender Date"), as reported by D.F. King & Co., Inc., the Tender and Information Agent for the Tender Offers, the principal amounts of the Notes listed in the table above have been validly tendered and not validly withdrawn. The Withdrawal Deadline of 5:00 p.m., New York City time, on December 18, 2020 has passed and, accordingly, Notes validly tendered in the Tender Offers may no longer be withdrawn.

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"), subject to the acceptance priority levels applicable to the relevant series as described in the Offer to Purchase and, in the case of the 3.700% Senior Notes due 2023 for the 2023 Notes Tender Offers and in the case of the 4.300% Senior Notes due 2028 for the 2028 Notes Tender Offer to proration as described below.

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.

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").

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.

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
1
Display Hero
Off
CSR Pillars
Audience

CVS Health completes rollout of time delay safes in all of its Oklahoma pharmacies

Top of the article

New Safes for controlled substances anticipated to help reduce robbery incidents

All 79 CVS Pharmacy locations in the state now using time-delay safe technology

WOONSOCKET, R.I. — As part of an ongoing commitment to helping build healthier and safer communities, CVS Health (NYSE: CVS) completed the installation of time delay safe technology in all of its 79 Oklahoma CVS Pharmacy locations, including those in Target stores. The safes are anticipated to help prevent pharmacy robberies and the potential for associated diversion of controlled substance medications including opioid medications such as oxycodone and hydrocodone by electronically delaying the time it takes for pharmacy employees to open the safe. In addition, the safes are anticipated to help CVS Pharmacy ensure the safety and well-being of its customers and employees.

"I commend the leadership of CVS Pharmacy for implementing this technology that will act as a deterrent for would-be pharmacy thieves and will also thwart diversion from stores," said Oklahoma Attorney General Mike Hunter. "The opioid epidemic has ravaged communities across our state and nation. With the ongoing Coronavirus pandemic, experts have seen a resurgence of opioid addictions. This technology will ensure the safety of those behind the counter and from these dangerous drugs getting into the wrong hands. Innovation and ingenuity are just as important as policy proposals when protecting our communities. I thank the company for its work in keeping Oklahomans safe."

CVS Health first implemented time delay safe technology in 2015 in CVS Pharmacy locations across Indianapolis, a city experiencing a high volume of pharmacy robberies at the time. The company saw a 70 percent decline in pharmacy robberies among the Indianapolis stores where time delay safes had been installed.

Since then, the company has introduced time delay safes across 15 states and the District of Columbia, resulting in a 50 percent decline in robberies at CVS pharmacies in those local communities.

"Pharmacy robberies are a challenging issue for every pharmacy, and we are committed to doing all we can to reduce the number of incidents in our Oklahoma stores," said Tom Moriarty, Chief Policy Officer and General Counsel, CVS Health. "We have seen that time delay safes, combined with other security policies and procedures in place at our stores, can greatly reduce these incidents and are pleased to roll out this enhanced security measure. These safes will help ensure that our pharmacies remain a safe environment for our patients and colleagues."

The time delay function cannot be overridden and is designed to serve as a deterrent to would-be pharmacy robbers whose goal is to enter and exit their robbery targets as quickly as possible. All CVS Pharmacy locations in Oklahoma with time delay safes display visible signage warning that time delay safes are in use to prevent on-demand access to controlled substance narcotics.

CVS Health's time delay safe program is one of many company initiatives to help address and prevent prescription opioid misuse and diversion.

Through its Safe Medication Disposal Program in Oklahoma, for example, the company has installed 23 drug disposal kiosks in select CVS Pharmacy locations in the state.

Presently, the company supports more than 2,800 safe medication disposal units in CVS Pharmacy locations nationwide. Over the past several years, the company has also donated over 1,000 units to local law enforcement. Together, these existing medication disposal units have collected more than 2.1 million pounds of unwanted medications that might otherwise have been diverted, misused or ended up in the water supply.

Located in the pharmacy area of the CVS store and similar in design to a postal box, the safe medication disposal units allow customers to drop off unused prescriptions in a container or in sealed plastic bags if liquids or multiple medications are included.

Additionally, CVS Pharmacy locations that do not offer a safe medication disposal kiosk offer DisposeRx packets at no cost to patients filling an opioid prescription for the first time. According to the manufacturer, when warm water and the DisposeRx powder are added to a container, the combination breaks down medications including powders, pills, capsules, tablets, liquids or patches to a non-divertible biodegradable gel, allowing for safe disposal in the trash at home.

CVS Health's commitment to helping prevent and address drug misuse and diversion also extends to community education and increasing access to the opioid overdose-reversal drug naloxone.

Our Pharmacists Teach Program connects volunteer CVS pharmacists with local students to encourage conversation and teach youth about the dangers of prescription drug misuse. Since 2015, our pharmacists have volunteered their time and delivered curriculum to nearly 600,000 teens and parents across the country. We've partnered with Discovery Education to expand the reach of Pharmacists Teach into more classrooms with a no-cost digital prevention program called Dose of Knowledge. This program provides standards-aligned resources to educators and pharmacists across the U.S. and strives to empower educators and pharmacists to address substance misuse and educate students to make good decisions for the health and well-being of themselves and their community.

Finally, CVS Pharmacy patients can now access the opioid overdose-reversal drug naloxone without an individual prescription at every CVS Pharmacy location nationwide, including all 50 states, Washington, D.C. and Puerto Rico. CVS Health has also worked with Google to help people locate naloxone at CVS Pharmacy and other locations in their community using Google's locator tool.

With its national reach and local presence, CVS Health has been working hard to help address opioid misuse and diversion with an enterprise-wide approach. To learn more about CVS Health's efforts, visit the company's Opioid Response website.

For downloadable time delay safe photos, please visit the Media 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

Monica Prinzing
831-241-8294
PrinzingM@aetna.com

Interior of a CVS Pharmacy store near the checkout area
Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
1
Display Hero
On
Locations
Audience

CVS Health increases access to flu vaccines in communities of need

Top of the article

WOONSOCKET, R.I. — CVS Health (NYSE: CVS) today announced it is supporting a nearly $3 million commitment to increasing access to flu vaccines for underserved communities throughout the country. Through its Project Health initiative, CVS Health is contributing $2 million to the National Association of Free and Charitable Clinics (NAFC) to help distribute flu vaccines to those who may otherwise not have access. Additionally, the company is working with Bank of America and General Motors to support increased access to flu vaccines in even more communities nationwide.

"Underserved communities have been hit particularly hard by COVID-19, so supporting flu prevention in these communities is even more important," said Eileen Howard Boone, SVP of Corporate Social Responsibility and Philanthropy, CVS Health. "Through our work with Free Clinics, and in teaming up with Bank of America and General Motors, we aim to expand our reach to individuals who may not otherwise have access to flu vaccines."

CVS Health's Project Health flu initiative will support free and charitable clinics in areas across the country, helping clinics increase capacity to provide flu vaccinations. Clinics in California, Florida, Georgia, Illinois, Kentucky, Maryland, New York, North Carolina, Pennsylvania, South Carolina, Texas will receive support. These grants extend the mission of Project Health which aims to break down the barriers for people to access quality and affordable health care.

"We are grateful to CVS Health for their continued commitment to supporting the work of Free and Charitable Clinics which provide access to needed health care services to underserved communities throughout the country," said Nicole Lamoureux, NAFC President and CEO. "This program will allow clinics to distribute needed flu vaccines to people in their communities that otherwise might not have access to vaccinations."

In addition to contributing to the National Association of Free and Charitable Clinics, CVS Health is working with Bank of America and General Motors to reach even more individuals in these areas of significant need. Bank of America is funding vouchers for free flu vaccines, redeemable at CVS Pharmacy and MinuteClinic locations in seven select cities: Boston, Detroit, Dallas, Jacksonville, Oklahoma City, Phoenix and Greater Washington, D.C. Additionally, General Motors is funding vouchers for free flu vaccines, redeemable at CVS Pharmacy and MinuteClinic locations in the Los Angeles area and across southern California.

"We are committed to working with the public and nonprofit sectors as one global community to address this health crisis and to provide the necessary resources to protect our most vulnerable populations," said Andrew Plepler, head of Environmental, Social and Governance at Bank of America. "Offering access to free flu prevention complements our other health-focused efforts including supplying PPE, supporting community-based testing and care, addressing food insecurity and providing access to mental health resources."

Flu prevention is critical during the COVID-19 pandemic so hospitals are not overwhelmed with cases of both COVID-19 and flu. And with seasonal flu outbreaks beginning as early as October and lasting as late as May, it is never too late to get a flu shot as it is the best defense against getting the flu. Getting a flu shot is one way to help protect individual health, especially for those who are more vulnerable to serious flu illnesses and people with certain chronic health conditions, like diabetes, high blood pressure and heart disease.

"We are proud to collaborate with CVS Health to increase access to flu vaccines for underserved communities in the Los Angeles area and across southern California," said Dr. Jeffery Hess, General Motors Chief Medical Director. "Now more than ever, it is important to be protected with a flu shot to help reduce flu illnesses and prevent flu-related hospitalizations and deaths, especially amid the COVID-19 pandemic. So many communities are enduring multiple crises during this difficult time, and we are grateful to be able to provide this support."

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

Courtney Tavener
401-712-3698
Courtney.Tavener@CVSHealth.com

A woman, wearing a face mask, receives a vaccination in an examination room from a nurse practitioner, also wearing a face mask.
Hide Media Contacts (Sidebar)
No
Press Release
Hide Share
Off
"Likes" Count
2
Display Hero
On
Audience