CVS Health | 2023 Fortune 500
Led by Karen Lynch, the health retail, pharmacy and insurance group is one of the two largest healthcare companies in the country. It’s also the largest company ever led by a female CEO.
- CVS beat Wall Street’s revenue expectations in 2022 by $322 billion, but profits fell nearly 50% compared to 2021.
- The company has made progress expanding into primary care with two large acquisitions: the primary care network Oak Street Health, which was purchased for approximately $10.6 billion; and Signify Health for about $8 billion. The deals were completed earlier than expected, prompting the company to drop its earnings forecast for 2023.
- CVS has joined other healthcare companies in settling lawsuits that it alleged should have known it filled so many opioid prescriptions. Under a settlement announced in December, CVS will pay state and local governments up to $4.9 billion over 10 years. (The company has not admitted any wrongdoing.)
