CVS, Caremark merger looks at new products - East Valley Tribune: Business

CVS, Caremark merger looks at new products

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Posted: Saturday, April 21, 2007 3:50 am | Updated: 7:01 pm, Fri Oct 7, 2011.

The newly merged CVS/ Caremark Corp. is a health care powerhouse with much of its might here in Scottsdale and Phoenix.

CVS/Caremark includes a massive mail-order pharmacy operation, and the nation’s largest pharmacy chain. It also is the nation’s largest employer of pharmacists and nurse practitioners.

Executives with the company were in the Valley this week and took time to discuss progress made since the merger of Caremark Rx and CVS Corp. was announce last month.

Caremark has a substantial work force in Scottsdale and near the Tempe-Phoenix border.

CVS has more than 110 stores in Arizona.

Half of CVS/Caremark’s product development team is based in Scottsdale, said Jack Bruner, executive vice president, marketing.

The local operation will play an important role in the combined company’s mission going forward in “both the servicing of members in the telephone centers, and the formulation of strategy, and the development of the products and services that we’ll bring to the market,” he said.

“As we look at the product development and the marketing, we are expecting to make some additions to the staff,” Bruner said.

The company’s Scottsdale data center processed 790 million online claims in 2006. Its Phoenix mail service pharmacy fills 210,000 prescriptions a week.

CVS/Caremark is continuing its rollout of Minute-Clinic retail-based health care centers, and now has 170 locations nationally.

“That’s going to grow to 600 by the end of the year, and I think we’re targeting something like 1,500 for the end of 2008,” Bruner said.

CVS/Caremark’s mail order and retail pharmacy businesses ranked highly in the newly released J.D. Power and Associates 2007 Retail Pharmacy Satisfaction Study. “Our intent here in the Valley is to leverage what each of the two companies does well and just take our game to the next level,” said Lance Adams, senior vice president, customer care services.

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