CVS Caremark’s MinuteClinic division hit a major milestone in April, announcing 20 million patient visits since opening the nation’s first in-store retail clinic in 2000. Over the past decade, the company has experienced tremendous growth and today is the largest and fastest growing retail clinic company in the U.S. With the Affordable Care Act open enrollment period now complete, demand is poised to increase even more so than before. MinuteClinic is responding with the expected openings of 150 new clinics in 2014 throughout both new and existing markets. Long-term, the company projects to have more than 1,500 clinic locations nationwide by 2017.
In Mid-May, CVS Caremark moved closer to having MinuteClinic locations in Rhode Island when the area’s health director approved the company’s plans. If CVS accepts the conditions that were required to proceed, MinuteClinics could open in Woonsocket, Cranston, North Smithfield and East Greenwich in the next 60 days, while Providence, Wakefield and Westerly could have clinics later this year.
According to Chain Store Guide’s 2013 Drug Industry Market Share Report, CVS Caremark had 88 pharmacy locations in the Providence metro core-based statistical area (CBSA) compared to 86 the previous year. CVS pharmacies in this area have a large lead at the top for the #1 pharmacy operator by prescription market share, ahead of Rite Aid and Walgreens.
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA Metro CBSA*
Counties: BRISTOL – MA; BRISTOL, KENT, NEWPORT, PROVIDENCE, WASHINGTON – RI
| Company Name |
Area |
RX Market Share |
Previous Area Stores |
Previous RX Market Share |
| CVS Caremark Corp.: WOONSOCKET, RI |
88 |
37.8% |
86 |
34.90% |
| Rite Aid Corporation: CAMP HILL, PA |
66 |
17.9% |
69 |
19.20% |
| Walgreen Company: DEERFIELD, IL |
42 |
17.2% |
42 |
18.30% |
| Stop & Shop Supermarket Company LLC: QUINCY, MA |
28 |
14.3% |
28 |
14.40% |
| Walmart Stores Inc.: BENTONVILLE, AR |
16 |
4.9% |
16 |
4.90% |
| Albertson’s LLC: BOISE, ID |
11 |
1.9% |
N/A |
N/A |
| Target Corporation: MINNEAPOLIS, MN |
10 |
1.6% |
10 |
1.50% |
| Pharma Health: NORTH DARTMOUTH, MA |
4 |
0.6% |
4 |
0.60% |
| Hannaford Bros. Co.: SCARBOROUGH, ME |
2 |
0.4% |
2 |
0.40% |
| Other operations |
17 |
3.4% |
18 |
3.60% |
*Source: Chain Store Guide’s 2013 Drug Industry Market Share Report
