Does CVS Health Have Aspirations To Be a Tech Company?
CVS Health (NYSE: CVS) is best known for prescription fulfillment and consumer product sales, but the company now appears be branching into new areas related to last year's $70 billion acquisition of health insurance provider Aetna.
According to an internal email obtained by Comcast's CNBC late last month and recently confirmed, the drugstore chain disclosed the appointment of Adam Pellegrini as senior vice president of transformation for consumer health products. Pellegrini comes from Fitbit, the maker of wearable fitness trackers, where he was the general manager and senior vice president for about three years.
While at Fitbit, the executive said he led the company's healthcare business, designing health and wellness products. At CVS, Pellegrini will report to Alan Lotvin, the chief transformation officer at CVS. In the memo announcing the hire, Lotvin said the former Fitbit executive will "lead the ideation and incubation of consumer-focused health products and services that drive enterprise value and growth," reported CNBC.
Source Fool.com
