MINNEAPOLIS (KMSP) - Target and CVS Health announced Wednesday that CVS Health has completed the acquisition of Target’s pharmacy and clinic businesses for approximately $1.9 billion.
CVS Health obtained Target’s 1,672 pharmacies across 47 states and will operate them through a store-within-a-store format, branded as CVS Pharmacy. Target’s 79 clinic locations will be rebranded as Minute Clinic.
“Over the next 6 to 8 months, CVS Health will rebrand the pharmacies and clinics in Target stores with CVS Pharmacy and Minute Clinic signage, convert technologies and systems, train thousands of new CVS Health colleagues and implement operational practices to best serve the healthcare needs of our shared guests,” Target said in a statement released Wednesday.
Most changes will take time to implement, but a few will be in place right away. As of Wednesday, Target Pharmacy guests have automatically moved to CVS Health’s network.
How the change affects customers
“There will be very little impact to your experience until individual pharmacies and clinics are rebranded,” Target said in a statement. “At that time, guests will have access to CVS Health’s leading pharmacy care programs and retail medical clinic services."
There is no action required to transfer prescriptions or manage refills – you’ll continue to receive prescriptions as usual. You will soon receive more information from CVS Health about its CVS Specialty Connect program and its refill options.
In regards to insurance, coverage will be uninterrupted for the majority of customers. Target recommends you contact your health plan provider directly to understand more about your pharmacy network, co-pays and other coverage options.
The Target Pharmacy Rewards program ended on Dec. 1, 2015 -- guests can no longer accrue points, though any Reward certificates can still be redeemed at Target stores. Following the transition period, CVS Health plans to offer its ExtraCare Pharmacy & Health Rewards at its pharmacies in Target stores. For more information, click here.