CVS 2011 Annual Report Download - page 25

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CVS CAREMARK 23 2011 ANNUAL REPORT
The Pharmacy Services segment operates under the CVS
Caremark® Pharmacy Services, Caremark®, CVS Caremark®,
CarePlus CVS/pharmacy®, CarePlus™, RxAmerica®
and Accordant® names. As of December 31, 2011, the
Pharmacy Services segment operated 31 retail specialty
pharmacy stores, 12 specialty mail order pharmacies and
four mail service pharmacies located in 22 states, Puerto
Rico and the District of Columbia.
On November 1, 2011, we sold our TheraCom, L.L.C.
(“TheraCom”) subsidiary to AmerisourceBergen Corporation
for $250 million, subject to a working capital adjustment.
TheraCom is a provider of commercialization support ser-
vices to the biotech and pharmaceutical industry. The
TheraCom business had historically been part our Pharmacy
Services segment. The results of the TheraCom business
are presented as discontinued operations and have been
excluded from both continuing operations and segment
results for all periods presented. See Note 3 to the consoli-
dated financial statements.
Overview of Our Retail Pharmacy
Segment
Our Retail Pharmacy segment sells prescription drugs and
a wide assortment of general merchandise, including over-
the-counter drugs, beauty products and cosmetics, photo
finishing, seasonal merchandise, greeting cards and con-
venience foods through our CVS/pharmacy® and Longs
Drugs® retail stores and online through CVS.com. Our Retail
Pharmacy segment derives more than two-thirds of its rev-
enues through the sale of prescription drugs, which are dis-
pensed by our more than 22,000 retail pharmacists. The
role of our retail pharmacists is shifting from primarily dis-
pensing prescriptions to also providing services, including
flu vaccinations as well as face-to-face patient counseling
with respect to adherence to drug therapies, closing gaps
in care, and more cost-effective drug therapies. Our inte-
grated pharmacy services model enables us to enhance
access to care while helping to lower overall health care
costs and improve health outcomes.
Our Retail Pharmacy segment also provides health care
services through our MinuteClinic® health care clinics.
MinuteClinics are staffed by nurse practitioners and physi-
cian assistants who utilize nationally recognized protocols to
diagnose and treat minor health conditions, perform health
screenings, monitor chronic conditions, and deliver vaccina-
tions. We believe our clinics provide quality services that are
quick, affordable and convenient.
Our proprietary loyalty card program, ExtraCare®, has well
over 68 million active cardholders, making it one of the
largest and most successful retail loyalty card programs in
the country.
As of December 31, 2011, our Retail Pharmacy segment
included 7,327 retail drugstores (of which 7,271 operated a
pharmacy) located in 41 states, the District of Columbia, and
Puerto Rico operating primarily under the CVS/pharmacy® or
Longs Drugs® names, our online retail website, CVS.com, 30
onsite pharmacies and 657 retail health care clinics operating
under the MinuteClinic® name (of which 648 were located in
CVS/pharmacy stores).
Overview of Our Corporate Segment
The Corporate segment provides management and admin-
istrative services to support the Company. The Corporate
segment consists of certain aspects of our executive man-
agement, corporate relations, legal, compliance, human
resources, corporate information technology and finance
departments.
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