CVS Pharmacy Is Getting A New Competitor

CVS Corporation, the parent company of CVS Pharmacy, is the largest drugstore chain in the United States of America. CVS Pharmacy outnumbers both Walmart and Walgreens – well, every place in the country where people purchase prescription medications – both of which are found seemingly in every town in America, if not multiple times in each locale.

Drew Madden, a tried-and-true healthcare entrepreneur, has extensive experience on the IT side of healthcare, which is integral to the success of medicinal practices and research. Mr. Drew Madden joined forces with Nordic Consulting Partners seven years ago. After one year with the organization, which was a small business at the time he joined, with only 10 employees, he was promoted to the rank of President. Throughout his five-year tenure as President, from 2011 to 2016, Drew Madden helped Nordic Consulting Partners grow from 10 to 725 employes – quite literally from a small business to a large corporation, as the Small Business Administration considers businesses with fewer than 500 employees “small” businesses – also gaining 147 clients (from 3 to 150), and last, but surely not least, from roughly $1,000,000 in fiscal year revenue to $130,000,000.

One doesn’t need to examine financial statements or seek out any statistics to be certain of Amazon being the largest digital retailer in North America. Amazon recently applied for and received licenses to engaged in pharmaceutical-related commerce in a handful of sizeable states across America. While the company isn’t slated to distribute pharmaceutical drugs like CVS Corporation does, Amazon certainly will engage in commercial activity related to healthcare-related products, like stretchers, gloves, surgical supplies, and so on.

In order to safeguard against Amazon taking over, CVS Pharmacy has recently shown interest in acquiring insurance provider giant Aetna. CVS’s ultimate goal is to provide everything consumers need related to healthcare, in order to stay afloat, as Amazon is sure to enter the fray.