CVS HEALTH CORPORATION - CVS STOCK NEWS

CVS Health, in partnership with Fresno Housing, is investing approximately $18.4 million to develop affordable housing in Fresno, California, through the Arthur @ Blackstone project. This initiative aims to support vulnerable groups such as transition age youth facing homelessness. The project will feature 41 housing units and offer comprehensive case management services. This investment is part of CVS's larger commitment to health equity, having invested $185 million in affordable housing nationwide in 2021 and a total of $1.3 billion over the last two decades.

OmniLife, a health technology platform for transplant hospitals, is a finalist for the 2022 Innovation Challenge by Lyfebulb and CVS Kidney Care. The challenge, aimed at improving kidney health, will award $25,000 to the best concept on May 19, 2022. OmniLife, committed to enhancing patient care in the transplant ecosystem, is also involved in NIH-funded clinical trials with major centers. The finalists will present scalable solutions to make kidney care more equitable and accessible, reflecting advancements needed in chronic kidney disease treatment.

Lyfebulb and CVS Kidney Care announced the 10 finalists for the 2022 Innovation Challenge aimed at enhancing health equity and outcomes in kidney disease. The challenge seeks innovative solutions to modernize treatment options for chronic kidney disease, which have largely remained stagnant. The finalists will present their ideas at a summit on May 18-19, 2022, in Austin, Texas, with the chance to win a $25,000 prize to support their initiatives. This initiative reflects CVS's commitment to addressing disparities in kidney health.

CVS Health Corporation (NYSE: CVS) announced the retirement of David W. Dorman as Independent Chair of the Board of Directors, effective May 11, 2022. Roger N. Farah has been selected to succeed him. Dorman has served since 2011 and joined the Board in 2006, while Tony L. White will also retire after being a director since 2011. CEO Karen S. Lynch praised Dorman's leadership and contributions to the company's growth. The Board will be reduced to 11 members following these retirements, as CVS Health continues to navigate the evolving healthcare landscape.

CVS Health has approved a quarterly dividend of $0.55 per share on March 9, 2022, for its common stock. This dividend will be payable on May 2, 2022, to shareholders on record as of April 22, 2022. As a leading health solutions provider, CVS Health aims to enhance community health through comprehensive services that include chronic disease management and affordable healthcare access.

CVS Health (NYSE: CVS) is investing over $15.3 million in a partnership with Pedcor Investments and WNC to develop 312 affordable housing units in San Antonio. This initiative addresses social determinants of health in underserved communities, particularly aiding families with incomes between 30% and 60% of the Area Median Income. The project, Crosswinds Apartment Homes, will feature a variety of amenities aimed at promoting healthier living. This investment is part of CVS Health's broader commitment, having allocated $185 million for affordable housing nationwide in 2021.

Aetna Better Health of Louisiana, a CVS Health company, has been selected for a new statewide Medicaid contract, continuing its service to over 150,000 enrollees in various Medicaid programs. This contract will support Medicaid eligible populations, including those in CHIP, TANF, SSI, and behavioral health programs. Aetna has demonstrated success in improving health outcomes and addressing disparities, notably achieving the highest vaccination rates among Louisiana Medicaid plans. The contract is expected to begin later this year, pending negotiation and approval processes.

CVS Pharmacy launched six innovative home health care products under the CVS Health brand, designed in collaboration with Michael Graves Design. These products aim to cater to the aging population and caregivers, addressing unmet needs in bathroom safety and mobility. Available at over 6,000 CVS locations and online, the new offerings include comfort grip canes and travel walkers. With over 70 million Americans aged 65 and older projected by 2030, CVS is committed to enhancing everyday lives through quality, aesthetically pleasing health care solutions.