After spending nearly $20 billion to pick up Signify Health and Oak Street Health this year, CVS rebranded its health services business to "CVS Healthspire" as it plots its long-term growth strategy.
During the Forbes Healthcare Summit in New York City on Monday, CVS chief executive officer Karen Lynch said Healthspire will encompass CVS' pharmacy services business, its care delivery assets, including home health company Signify Health and Medicare-focused primary care player Oak Street Health, as well as its new Cordavis operation. Cordavis is a new segment CVS launched in August that aims to work with drugmakers to bring additional biosimilars to market.
"This is where all our multi-payer assets will be combined together so that we can integrate the care for our multi-payer capabilities, and set further our ability to drive our journey. We're really excited about CVS Healthspire and it's our journey to really drive to the pinnacle of healthcare," Lynch said during the Forbes event.
The goal is to create an "integrated ecosystem" for patients, executives said in a statement. The groups within CVS Healthspire will continue to focus on integration across the company’s assets to deliver connected patient care, pharmacy benefits and innovative provider support solutions, the company said.
The CVS Healthspire brand will begin to roll out publicly this month and into 2024.
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