CVS Caremark
prescription benefit management subsidiary of CVS Health
CVS Caremark Corporation is the pharmacy benefit management subsidiary of CVS Health Corporation, headquartered in Woonsocket, Rhode Island. As a pharmacy benefit manager (PBM), CVS Caremark handles prescription drug plans and is distinct from CVS Pharmacy, which is the retail subsidiary of CVS Health.
CVS Caremark provides prescription benefit management services including mail order pharmacy services, specialty pharmacy and infusion services, plan design and administration, formulary management, and claims processing. The company acts as a pharmacy-benefit manager for plan sponsors, including employers, health-insurers and government employee health plans, administering prescription-drug benefits for their members or employees.
Company history
Early years
CVS Caremark was founded in 1993 as MedPartners, Inc. in Birmingham, Alabama, by several local businessmen as a physician practice management (PPM) company. Larry House, an executive from HealthSouth, was brought on to serve as the company's first CEO.
MedPartners went public in February 1995 and began buying up other PPM business around the country. In August 1995, MedPartners announced the acquisition of Mullikin Medical Enterprises, a PPM company based in California. In December 1995, MedPartners acquired Pacific Physicians Services, a PPM company based in Redlands, California.
The company continued to grow by acquiring physician practice groups, including the Kelsey-Seybold Clinic in Houston, Texas, the Summit Medical Group in Summit, New Jersey, and the Ross–Loos Medical Group in Los Angeles, California.
“CVS Caremark” enters the record as prescription benefit management subsidiary of CVS Health. Crown Archives preserves that source wording while asking what Caremark, prescription and benefit can confirm, complicate or overturn.
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The citation trail is more important than the brevity of the summary: it shows where individual claims can be examined in context. The source revision retrieved here is dated Aug 19, 2026. The linked authority identifier is Q5039014. 2 of 2 selected statements include explicit references; 1 carry qualifiers and 0 use preferred rank. The first chronological checks are 1993 and 1995.
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This entry incorporates text from “CVS Caremark” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.