CVS Health will enlarge its new wellness hub concept shop through the Houston marketplace after viewing promising early results at the first pilot shops.
The results also led to CVS executives' decision to increase its entire year profit forecast after its first full quarter with all the health insurance Aetna as part of the business.
The operation led to CVS' choice to increase earnings guidance to $6.75 to $6.90 per share in $6.68 to $6.88, the firm said.
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CVS before this season started to pilot three"
HealthHUB" places In Houston that devote over 20 percent of their shop to health services that have new durable medical equipment, supplies and assorted fresh product and service mixes. CVS executives Wednesday said that they included tens of thousands of new personal care products in addition to additional services in its MinuteClinics from the gym shops.
The move to incorporate fresh healthcare services comes as retailers such as CVS, Walgreens Boots Alliance and Walmart seem to fill the draining area in their physical shops in the face of changing consumer buying habits driven by online retail giant Amazon and many others.
CVS chief executive officer Larry Merlo told analysts that the early outcomes of the hub places from the first evaluation sites gave the business reason to enlarge the shop notion throughout the big Houston marketplace. CVS did not disclose certain outcomes of the HealthHub places but stated retail earnings were up 3.3percent total for its first quarter.
The company decided to announce additional expansions of this Health HUB in the subsequent two weeks, executives said.
"We are prepared to finish the Houston market in the coming weeks," Merlo told analysts Wednesday morning. "Bottom line: We're excited about the chance."
Considering that the merger using Aetna, analysts are expecting more business from customers that are guaranteed by the combined business. At the first quarter, CVS reported the business is profiting from the addition of Aetna health insurance products, citing growth across health plans.
CVS' Aetna unit now has over 22.8 million members, driven in part by the growth of its private Medicare Advantage plans. Medicare Advantage enrollment grew to over 2.2 million in the quarter compared to 1.7 million at the end of this past year, the business said.
