What company was formed by the 2007 merger of CVS Corporation and Caremark Rx?

The 2007 merger of CVS Corporation and Caremark Rx formed CVS Caremark.

CVS Corporation operated pharmacies and retail stores, while Caremark Rx was a major pharmacy-benefit manager that handled prescription-drug plans for employers, insurers and other organizations. Their combination joined a large retail pharmacy network with a company managing prescription benefits and mail-order services.

The combined business was initially named CVS Caremark Corporation. In 2014, it changed its corporate name to CVS Health to emphasize a broader healthcare strategy rather than only pharmacy services. The CVS and Caremark brands continued to be used for distinct parts of the business.

This history can cause confusion because CVS Caremark is both a former corporate name and a continuing business brand. It is also separate from Walgreens Boots Alliance, formed in 2014 through Walgreens’ acquisition of the remaining shares of Alliance Boots.