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CVS/pharmacy (also '''CVS''') is a Pharmacy and Convenience Store Chain in the United States . CVS is also the largest pharmacy Chain in the United States, based on the number of stores. CVS operates stores under the name of ''CVS/pharmacy'', though these are often simply called '''CVS'''. It also operates a specialty drugs and benefits management division called '''''Pharmacare'''''. Recently, they acquired '''''MinuteClinic''''' as a wholly-owned subsidiary. It operates basic-care clinics, staffed by Nurse-Practitioners and Physician Assistants. Most of these clinics are in CVS stores. While CVS is incorporated in Delaware, and is based in Woonsocket, Rhode Island , it was founded in Lowell, Massachusetts in 1963. CVS Corporation merged with Caremark RX in March 2007. The new company is called CVS Caremark Corporation and it is headquartered in Woonsocket , Rhode Island . NAME CVS Corporation used to be a subsidiary of Melville Corporation until Melville changed its name to CVS in 1996. The acronym once stood for "Consumer Value Stores", but CEO Tom Ryan has said he now considers it to stand for "Convenience, Value, and Service." During the company's days as a regional chain in the Northeastern U.S., many of CVS's stores did not include pharmacies. These stores were simply called "CVS", while the ones with pharmacies were called "CVS/pharmacy." Additionally, in some jurisdictions, pharmacies are required to label themselves as such. Today, the company no longer builds new stores without pharmacies, and is gradually phasing out the old Convenience Store -type shops that remain in New England , New York , Washington, D.C. , and shopping malls. ACQUISITIONS AND GROWTH .]] that was formerly an Eckerd .]]
::CVS had previously operated stores in southern California, but completely withdrew from the market in 1993. CVS sold virtually all of the locations to Sav-On's then owner American Stores , who operated them under the name American Drug Stores. As a result, many of the stores CVS gained in January 2006 had been the stores it owned prior to 1993. Before their re-acquisition, the stores were operated under the name Sav-On Express (the Express name was used to help customers identify those stores that did not carry all the lines of merchandise as compared to the larger, traditional Sav-On Drugs locations). CVS now operates over 6,200 stores in 43 states and the District Of Columbia . {Link without Title}
The accquisitions have made for some interesting locations notably in Chicago, where CVS acquired freestanding Osco Drugs. In some locations CVS now has two stores less than two blocks apart. Competitor Rite Aid is going through a much bigger situation similar to CVS after its recent acquisiton of Eckerd Pharmacy , where in many instances the stores are as far as a few blocks apart to as close as right next door to each other. PRIVATE LABEL CVS has an extensive assortment of various private labels and proprietary brands. In addition to CVS/pharmacy Brand, CVS also carries exclusive store brands under the names of '''Essence of Beauty''', '''Gold Emblem''', '''Stars and Stripes''', and '''Round the House'''. CVS also holds exclusive contracts to sell proprietary brands such as '''Nuprin''', '''Life Fitness''', '''Christophe''', '''Ellin Lavar''', '''PreVentin-AT''', '''Skin Effects''', and the Scandinavian brand '''Lumene'''. A new exclusive ''' Playskool ''' line of baby care is also in CVS stores. CVS was also first to sell single-use digital cameras and camcorders from '''Pure Digital'''. CONTROVERSIES , across from the University Of Texas At Austin ]] Elensys In 1998, '' The Washington Post '' reported that CVS appeared to be sharing Prescription Drug information with the Woburn -based marketing company, Elensys . According to the Post, Elensys received information on specific prescription drugs that individual CVS customers had purchased and used this information to send targeted direct mailings urging customers to renew prescriptions and promoting other products in which they might be interested. CVS and Elensys argued that there were no privacy issues because Elensys was acting solely as a Contractor to CVS, and because the purpose of the mailings was to educate consumers. CVS claimed that it never shared customers' Medical Histories with Elensys (despite the ''Washington Post'''s indirect evidence that they had). George D. Lundberg, editor of the '' Journal Of The American Medical Association '', called the practice "a gross invasion" of Privacy . Following a firestorm of criticism and complaints by consumers, CVS discontinued the practice. Boston prescriptions During 2005 a rash of prescription mistakes came to light in some of CVS' : Boston edition'', 2006-02-10 Executives accused of bribing Senator Former CVS executives John R. Kramer and Carlos Ortiz were charged with bribery, conspiracy, and fraud (including mail fraud) by a federal grand jury for allegedly paying State Senator John A. Celona (D-RI) to act as a "consultant" for the company. Between February 2000 and September 2003, CVS paid Celona $1,000 a month, and he received tickets to golf outings and sporting events and compensation for travel to Florida and California. In August 2005, he pleaded guilty to mail fraud charges, and in January 2007, he was fined a record $130,000 by the Rhode Island Ethics Committee. The investigation was led by the FBI and the Rhode Island Police, and the case was prosecuted by Assistant U.S. Attorneys Gerard B. Sullivan and Dulce Donovan. Additional information is available in a press release from the FBI's Boston field office. {Link without Title} ''20/20'' A segment on '' 20/20 '' accused CVS, Walgreens, & Rite Aid among other pharmacies, of making various prescription dispensing errors. This segment aired in March 2007 and was called "ABC News '20/20' Undercover Pharmacy Investigation". CVS responded by claiming they have designed and invested millions of dollars in a comprehensive quality assurance program to enhance patient safety, and that they are constantly examining and implementing new and innovative ways to further improve quality. {Link without Title} {Link without Title} CVS sued by Texas for illegally dumping patient info Texas Attorney General Greg Abbott has sued CVS as of April 2007, for illegally dumping confidential patient information. CVS is accused of breaking the 2005 Identity Theft Enforcement and Protection Act. There are also other possible violations under the violations under Chapter 35 of the Business and Commerce Code. {Link without Title} EXTERNAL LINKS REFERENCES |
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