CVS Health Corp
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Health Care : Health Care Providers & Services | Large Cap Value
Company profile

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc. (Omnicare) and Omnicare's long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings. It operates through three segments: Pharmacy Services, Retail/LTC and Corporate. The Pharmacy Services Segment provides a range of pharmacy benefit management (PBM) solutions to its clients. As of December 31, 2016, the Retail/LTC Segment included 9,709 retail locations (of which 7,980 were its stores that operated a pharmacy and 1,674 were its pharmacies located within Target Corporation (Target) stores), its online retail pharmacy Websites, CVS.com, Navarro.com and Onofre.com.br, 38 onsite pharmacy stores, its long-term care pharmacy operations and its retail healthcare clinics.

Price
Delayed
$63.97
Day's Change
1.03 (1.64%)
Bid
--
Ask
--
B/A Size
--
Day's High
64.17
Day's Low
63.02
Volume
(Below Average)

Today's volume of 3,930,790 shares is on pace to be lower than CVS's 10-day average volume of 6,080,954 shares.

3,930,790

Syed A. Husain, RPh, Joins PJ SOLOMON from CVS to Lead Pharmacy Advisory Effort

9:00 am ET June 24, 2020 (Globe Newswire) Print

PJ SOLOMON, a leading financial advisory firm and independently-operated affiliate of Natixis, announced that Syed A. Husain, RPh, has joined as a Managing Director.

A Registered Pharmacist and former Vice President of Corporate Acquisitions & Real Estate (CA&RE) at CVS Health Corporation (NYSE: CVS), Mr. Husain's practice will initially focus on retail pharmacy, infusion, specialty, long-term care and Pharmacy Benefit Managers (PBMs). Over the course of his career, he has been engaged with multiple transactions totaling more than $100 billion in value.

PJ SOLOMON has long been active in the pharmacy sector. The Firm advised Southeastern Grocers on its recently-announced sales of selected Bi-Lo pharmacy assets to CVS and Walgreens, as well as its sale of selected Winn-Dixie pharmacy assets in 2016. In 2018 and 2019, the Firm advised Fred's on its sales of pharmacy assets to Walgreens and CVS. These transactions were led by Scott Moses, Managing Director and Head of Grocery & Restaurants. With the addition of Mr. Husain, the group will be renamed Grocery, Pharmacy & Restaurants to reflect its heightened focus on advising clients in the Pharmacy sector.

Marc Cooper, Chief Executive Officer of PJ SOLOMON said, "We expect to see further consolidation in the retail and specialty pharmacy sector and consider it an important market for the continued expansion of our platform. Our clients will benefit greatly from Syed's extensive sector experience and expertise."

"Syed has extraordinary pharmacy and healthcare transaction experience; he will meaningfully expand our ability to advise our grocery and drug retail clients as they increasingly focus on wellness to better serve their customers," said Mr. Moses.

Mr. Husain joined CVS in 1994 as a Pharmacy Manager before being promoted to Regional Healthcare Manager. In 2001 he served as Director, Real Estate & Pharmacy Acquisitions. In 2008, he was promoted to Senior Director, CA&RE. Since 2014, he has served as Vice President, CA&RE.

"I have had the opportunity to get to know PJ SOLOMON over the years and have long admired the passion its bankers bring to advising clients," said Mr. Husain. "I look forward to helping the firm expand its capabilities in pharmacy and healthcare, and to leveraging my experience to advise clients as they navigate the opportunities in this dynamic sector."

Mr. Husain earned a Bachelor of Science, Pharmacy from the Rutgers University College of Pharmacy and is a member of both the American Pharmacists Association and the National Community Pharmacists Association.

About PJ SOLOMON

Founded 30 years ago, PJ SOLOMON is a leading financial advisory firm with a legacy as one of the first independent investment banks. Our difference is unmatched industry knowledge in the sectors we cover, creating superior value with unrivaled wisdom for our clients. We advise clients on mergers, acquisitions, divestitures, restructurings, recapitalizations, capital markets solutions and activism defense, across a range of industries. PJ SOLOMON is an independently operated affiliate of Natixis, part of Groupe BPCE. For further information visit PJSOLOMON.com.

Media Contact

Nick Theccanat

ntheccanat@pjsolomon.com

281.546.0526

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f4a40ae9-e32e-4995-b728-de718def1e82

https://ml.globenewswire.com/media/17751786-fe12-47f8-971e-2c4e11937e36/small/pj-solomon-logo-standard-unrivaled-wisdom-jpg.jpg

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