At its Investor Day presentation in New York Tuesday morning, the company also reaffirmed its prior guidance for the full fiscal year.
The company plans to convert a total of 50 stores this year in Houston, Atlanta, Philadelphia, and Tampa, representing about 15% of the stores in each of the markets, it said ahead of a meeting on Tuesday with Wall Street analysts and investors in NY.
Because patients on the whole interact with pharmacists more than any other healthcare provider (including their primary care physician) and want more personalized health services in this time of consumerism, HealthHUBs are uniquely situated to bring the point of care back into the community, according to brand consultancy Monigle.
Reliance Trust Co. of DE boosted its stake in CVS Health Corp (NYSE:CVS) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The company plans to run 1,500 HealthHub stores by the end of 2021.
There's also an extra room where nurse practitioners can provide additional services like diabetic screenings, sleep apnea assessments and blood tests.
The company said during its pilot phase customers accepted help from our care concierge in more than 95 percent of recorded interactions beyond a greeting, with 60 percent resulting in engagement with a HealthHUB provider or offerings.
Competitor Walgreen's is testing getting into primary care at its stores.
While keeping people healthy (especially as the population ages) is a noble goal, there is not much here that is altruistic, as having doctors in the stores (Walgreens) or CVS in the process of buying a giant insurance company (Aetna) is primary still all about keeping profits up and creating new sources of revenue. Later this year, CVS will introduce the new store format to Atlanta, Philadelphia, Southern New Jersey and Tampa.
The investor day comes as the CVS-Aetna merger agreement with the U.S. Justice Department is under scrutiny. U.S. District Judge Richard J. Leon has so far resisted assertions from the DOJ's Antitrust Division and the companies that federal law limits his review to the competitive concerns raised by the government in its merger settlement, which focused on overlap in the market for prescription drug plans, or PDP.
The company said it expects adjusted earnings of over $7 per share in 2020, while reiterating its profit and sales forecast for 2019. "Going forward, we also have truly exciting opportunities to introduce programs and products that will change the way people think of and address their health".
Reiterates 2019 guidance: Revenues: $251.2B - 254.4B; non-GAAP operating income: $15.0B - 15.2B; EPS: $4.90 - 5.05; non-GAAP EPS: $6.75 - 6.90; cash available to pay down debt: $4.2B - 4.6B.