CVS Health宣布分拆为两家上市公司：约9000家药房独立为CVS Pharmacy 预计2028年上半年完成
CVS Health 11月4日在罗得岛州 Woonsocket 宣布，经董事会全面战略评估，公司拟分拆为两家独立的上市公司：一家是涵盖健康福利、药房服务与医疗交付的医疗解决方案公司，另一家是以约9,000家零售药房为核心的全国零售药房与社区医疗公司 CVS Pharmacy。分拆预计在2028年上半年完成。
保留 CVS Health 名称的医疗解决方案公司（过渡期暂以 CVS Health 称呼）将包括健康保险公司 Aetna、药房福利管理公司 CVS Caremark、CVS Specialty、初级保健机构 Oak Street Health 与居家健康公司 Signify Health，以及价值型医疗与居家健康业务。
新设的 CVS Pharmacy 将包括约9,000家 CVS 药房、邮购药房、MinuteClinic（含线上诊疗）与 Health100 技术服务业务，旗下有近30,000名药剂师，公司称将继续拓展与支付方、药房福利管理机构与制药企业的合作。
人事安排方面，现任 CVS Health 董事长兼首席执行官 David Joyner 将任医疗解决方案公司董事长兼首席执行官；现任集团总裁 Prem Shah 将任 CVS Pharmacy 首席执行官。其余领导职位与两家公司董事会成员将稍后公布。
交易结构上，分拆计划按对公司与股东免税的方式设计；完成时，CVS Health 现有股东将同时持有两家公司的股份。交易尚须取得董事会最终批准、向美国证券交易委员会提交的 Form 10 注册声明生效，以及免税待遇的惯常确认等条件。公司预计两家公司在分拆时都将拥有稳健的投资级信用评级、强劲的自由现金流与有吸引力的股息。分拆完成前，CVS Health 照常运营，客户、患者与会员的药品、护理、福利与服务不受影响。
Joyner 表示，过去两年公司组建了管理团队、强化了财务并重振了运营，两家公司将各自以更聚焦的战略、独立的资本结构与更敏捷的创新推进技术应用，目标是让医疗「一次一个人、一个家庭、一个社区」地变简单。此次分拆的财务顾问为高盛（牵头）与 Consello，法律顾问为 Wachtell, Lipton, Rosen & Katz。
截至2026年9月30日，CVS Health 在全美有约9,000家零售药房、1,000多家步入式与初级保健诊所，药房福利管理业务覆盖约8,700万计划会员，健康保险产品与相关服务惠及约3,700万人。公司同日发布第三季度业绩并上调2026年全年指引。
关联：CVS Health第三季度营收1084亿美元增5.4%：上调2026全年指引
（来源：CVS Health）
CVS Health to Split Into Two Public Companies: About 9,000 Pharmacies to Form CVS Pharmacy, Completion Expected in First Half of 2028
CVS Health announced on November 4 in Woonsocket, Rhode Island, that following a comprehensive strategic review by its Board of Directors, it intends to separate into two independent, publicly traded companies: a healthcare solutions company spanning health benefits, pharmacy services and care delivery, and CVS Pharmacy, a national retail pharmacy and community healthcare company built around approximately 9,000 pharmacies. The separation is expected to be completed in the first half of 2028.
The healthcare solutions company, referred to in the interim as CVS Health, will comprise health insurer Aetna, pharmacy benefit manager CVS Caremark, CVS Specialty, primary care provider Oak Street Health and home health company Signify Health, together with its value-based care and in-home health businesses.
The new CVS Pharmacy will comprise approximately 9,000 CVS pharmacies, mail pharmacy, MinuteClinic including virtual care, and the Health100 technology services business, served by nearly 30,000 pharmacists. The company said it will pursue wider partnerships with payers, pharmacy benefit managers and manufacturers.
David Joyner, currently Chairman and CEO of CVS Health, will be Chairman and CEO of the healthcare solutions company, while Prem Shah, currently Group President, will be CEO of CVS Pharmacy. Additional leadership positions and Board members will be announced at a later date.
The separation is intended to be tax-free to the company and its shareholders, and on completion CVS Health shareholders will own shares in both companies. It remains subject to final Board approval, effectiveness of a Form 10 registration statement filed with the U.S. Securities and Exchange Commission, and customary confirmation of the tax-free treatment. Both companies are expected to have a solid investment grade rating, strong free cash flow and an attractive dividend at separation. Until completion, CVS Health will operate as it does today, with no interruption to medicine, care, benefits or services.
Joyner said that over the last two years the company has built its leadership team, strengthened its financials and revitalized operations, and that both companies will advance technology to simplify healthcare “one person, one family and one community at a time.” Goldman Sachs & Co. LLC is lead financial and strategic advisor, Consello is also a financial and strategic advisor, and Wachtell, Lipton, Rosen & Katz is legal counsel.
As of September 30, 2026, CVS Health had approximately 9,000 retail pharmacy locations, more than 1,000 walk-in and primary care clinics, a pharmacy benefits manager with approximately 87 million plan members, and health insurance products serving an estimated 37 million people. The company also reported third quarter results and raised its full-year 2026 guidance on the same day.
Related: CVS Health Q3 Revenue Rises 5.4% to $108.4 Billion as 2026 Guidance Is Raised
(Source: CVS Health)
来源：CVS Health
发布：GSM·美国（发布链接）
图片来源：图：马萨诸塞州 Charlton 的一家 CVS 药房门店。John Phelan 摄，CC BY 4.0，经 Wikimedia Commons。 / Photo: A CVS pharmacy store in Charlton, Massachusetts. Photo by John Phelan, CC BY 4.0, via Wikimedia Commons.
GSM Global · 本篇英文版 English edition of this story
- 2026-11-04 03:43CVS Health宣布分拆为两家上市公司：约9000家药房独立为CVS Pharmacy 预计2028年上半年完成本篇
- 2026-11-04 03:43CVS Health第三季度营收1084亿美元增5.4%：上调2026全年指引 调整后每股收益至少8.20美元
