CVS Health closed the acquisition of Target’s pharmacy and clinic businesses for $1.9bn.

CVS Health, pharmacy innovation company has completed its acquisition of Target’s pharmacy and clinic businesses for $1.9bn. The transaction enables CVS Health to reach more patients, adding a new retail channel for its offerings, and expanding convenient options for consumers. Given CVS Health’s proven success in growing its business, the relationship is expected to benefit Target’s long-term traffic and sales growth. It also enables Target to strengthen its focus on wellness as a signature category. “This strategic relationship with Target supports the highly complementary customer base, brand and culture we share. This relationship with Target will provide consumers with expanded options and access to our unique health care services that lead to better health outcomes and lower overall health care costs.” Larry Merlo, CVS Health President and CEO.