CVS HEALTH CORPORATION - CVS STOCK NEWS

CVS Health has declared a quarterly dividend of $0.605 per share, effective for shareholders on record as of April 21, 2023. The payment will be made on May 1, 2023. This decision reflects the company's commitment to returning value to its shareholders while supporting its strategy in health solutions across America. CVS continues to enhance access and lower healthcare costs through its extensive network and dedicated workforce, which includes over 40,000 healthcare professionals.

CVS Health Corporation (NYSE: CVS) reported significant growth in its financial results for Q4 and the full year ending December 31, 2022. Total revenues rose to $83.8 billion in Q4, representing a 9.5% increase year-over-year, while full-year revenues reached $322.5 billion, a 10.4% rise. The company achieved GAAP diluted EPS of $1.75 for Q4 and $3.14 for the full year. Key drivers included an increase in pharmacy claims and the acquisition of Signify Health. However, CVS faced challenges, including opioid litigation charges of $5.8 billion and a loss on asset sales of $2.5 billion.

CVS Health (NYSE: CVS) has announced a definitive agreement to acquire Oak Street Health (NYSE: OSH) in an all-cash deal valued at approximately $10.6 billion, or $39 per share. This acquisition aims to enhance CVS's care delivery strategy, particularly for underserved communities, by leveraging Oak Street's innovative, value-based healthcare model. With over 169 medical centers across 21 states, Oak Street Health focuses on providing quality care for older adults. CVS anticipates significant synergies from the merger, projecting more than $500 million in long-term operating income growth and increased access to healthcare services.

Aetna Better Health of West Virginia has secured a new Medicaid managed care contract from the West Virginia Department of Health and Human Resources to continue serving Mountain Health Promise members. The contract, effective July 1, 2023, will support around 30,000 beneficiaries, providing physical and behavioral health care services, particularly for children in foster care and those receiving adoption assistance. Aetna has invested $6.1 million and $9.3 million to enhance community-based services, aiding in the transition of children from residential facilities. This contract potentially includes three one-year extensions.

CVS Health® (NYSE: CVS) has launched the CVS Health Community Equity Alliance to enhance health access in underserved communities across the U.S. This initiative aims to expand the community health worker workforce, improve connections between healthcare institutions and communities, and address health disparities, particularly in heart and mental health. Initial partners include Meharry Medical College, Sinai Chicago, and Wayne State University. Funding will be provided for tailored initiatives, and the Alliance will promote evidence-based interventions to make healthcare more accessible.

CVS Health has appointed David Joyner as Executive Vice President and President of Pharmacy Services, effective January 30, 2023, and Amy Bricker as Executive Vice President and Chief Product Officer – Consumer, starting in February. Joyner returns to lead the Pharmacy Services segment, overseeing solutions for over 110 million members through CVS Caremark and CVS Specialty, while Bricker will focus on consumer product innovation to meet evolving healthcare needs. The changes come as Dr. Alan Lotvin, the former head of Pharmacy Services, plans his retirement in April after a decade with the company.

CVS Health has announced a new collaboration with RUSH University System for Health to enhance healthcare access for Medicare patients in Chicago. This partnership focuses on coordinated care based on Medicare's ACO REACH model, promoting health equity and reducing unnecessary medical costs. Patients can access RUSH clinical services through ACO REACH-participating MinuteClinics in Chicago and Evanston, which provide in-person and virtual care. The initiative aims to bolster care coordination and support for 35,000 Medicare beneficiaries, ensuring comprehensive services including transportation and cost-sharing assistance. This agreement underscores CVS's commitment to improving health equity.

CVS Health (NYSE: CVS) will conduct a conference call on February 8, 2023, at 8:00 a.m. ET to discuss its fourth quarter and full-year 2022 financial results. The call aims to provide insights into the company’s performance over the past year. Investors and analysts can participate via an audio webcast available on the CVS Health Investor Relations website, where it will remain archived for one year.

CVS Health (NYSE: CVS) announced the appointment of Sam Khichi as Executive Vice President, Chief Policy Officer, and General Counsel, effective February 13, 2023. In this role, he will oversee the legal, compliance, and government affairs teams, aiming to enhance healthcare accessibility and affordability. Khichi, with extensive experience in managing healthcare legal strategies, succeeds Tom Moriarty, who is retiring in April 2023. CVS Health's President and CEO, Karen S. Lynch, praised Khichi's track record in leading significant transformations in healthcare organizations.