April 2016

Target Divests Pharmacies and Clinics to CVS Health

North America - United States | North America | United States - Minnesota

Target Corporation sold its pharmacy and clinic business to CVS Health Corporation for $1.9 billion. Our firm was Target's lead counsel in the transaction.

CVS acquired more than 1,660 Target pharmacies across 47 states, and Target’s clinic locations were acquired and rebranded as MinuteClinic. CVS Health planned to open 20 new clinics in Target stores within the first three years of the transaction’s closing. By 2017, CVS aimed to operate 1,500 clinics. The relationship was strategic and beneficial for both entities, allowing CVS to reach more patients and strengthening Target’s long-term traffic and sales growth.

Related Legal Services

The Faegre Baker Daniels website uses cookies to make your browsing experience as useful as possible. In order to have the full site experience, keep cookies enabled on your web browser. By browsing our site with cookies enabled, you are agreeing to their use. Review Faegre Baker Daniels' cookies information for more details.