CVS Health said its rollout of new “health hub” concept store will reach four U.S. metropolitan areas and 50 locations by the end of this year as the company sees benefits in customers and revenues from the effort.
CVS said the HealthHub rollout will grow to 1,500 locations by the end of 2021, or about 500 HealthHubs a year, CVS chief executive officer Larry Merlo told analysts Wednesday on the company’s second quarter earnings call.
“We are seeing additional traffic and seeing that translate to sales momentum” throughout the store, including the front of the store and in the CVS MinuteClinics,” Merlo told analysts during the company’s earnings call. Buoyed by growth of pharmacy sales and the integration of the Aetna health insurance business, which it purchases last year, CVS reported $ 1.9 billion in profits or $ 1.89 per share.
CVS earlier this year began to pilot three “HealthHUB” locations in Houston that dedicate more than 20% of the store to health services that include new durable medical equipment, supplies and various new product and service combinations. CVS is adding thousands of new personal care items as well as additional services at its MinuteClinics in the health hub stores.