CVS Closing 900 Stores Amid Pivot Toward ‘Health Hub’ Model

CVS Closing 900 Stores Amid Pivot Toward ‘Health Hub’ Model

CVS is planning to close 900 stores amid a shift toward health services.

The firm will create primary-care services at some sites, while converting others into health hubs that provide mental health services, hearing exams, and other screenings.

“The company has been evaluating changes in population, consumer buying patterns and future health needs to ensure it has the right kinds of stores in the right locations for consumers and for the business,” CVS announced in a statement.

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CNBC explains:

Store closures will begin in spring 2022. The company said it plans to close about 300 per year. In total, the closures will add up to roughly 9% of CVS’ nearly 10,000 U.S. stores. The company declined to share the specific locations of stores that will shutter.

CVS did not say

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