CVS said it would either purchase or take a stake in a primary-care company before the year is over, part of a wave of pharmacy retailers strengthening their medical care offerings.
As CNBC reported Wednesday (Aug. 3), company CEO Karen Lynch said CVS wants to work with a provider that has a robust management team, background in tech, and that can grow quickly.
See also: CVS Q2: ‘Digital First Approach’ Drives Boost in Convenience, Community Health
This move would add to the medical care offerings CVS has been adding to its drugstores. It has added MinuteClinic outposts to its stores, where customers can receive vaccines or urgent care services. It has also recently launched mental health services at some stores.
CNBC noted that Dr. Alan Lotvin, executive vice president of CVS Health and president of CVS Caremark, said he sees the company standing out in primary care.
The company wants to offer longer hours at its doctor’s offices so people can visit as early as 6 a.m., as late as 9 p.m., or on the weekends. It also wants to utilize simple, streamlined tech, so customers don’t have to fill out piles of paperwork.
Related: Walgreens Looks to Healthcare and Digital for Growth
Lynch said Wednesday that CVS has a competitive edge due to the size of its business.
As PYMNTS reported, Lynch said, “Nearly 4.8 million customers engage with us every day as CVS locations, making us a powerful community health destination.”
Lynch added that traffic at CVS’s MinuteClinics had risen 12% and has seen more than 2.8 million patient visits so far this year.
CVS is facing competition in this space from the likes of Walgreens Boots Alliance, which is opening hundreds of medical practices in collaboration with VillageMD.
Read more: Amazon’s $4B Bet on One Medical Ups Healthcare Fight With Walmart, Rivals
Last month, Amazon announced it would pay $3.9 billion to acquire primary care firm One Medical, a company that has on-site offices in major U.S. metro areas and a comprehensive set of telehealth offerings.
Amazon’s move was part of its ongoing healthcare battle with Walmart, which acquired telehealth provider MeMD last year, later rebranding it as Walmart Health Virtual Care.