Ed DeVaney named President of CVS Caremark
Rhea-AI Summary
CVS Health (NYSE: CVS) has appointed Ed DeVaney as president of CVS Caremark, its pharmacy benefit management business, following his interim role since December 2024. DeVaney, who will report to Group President Prem Shah, brings extensive experience from his 20-year tenure with the company.
DeVaney previously led CVS Caremark sales and account management as president of Employer & Health Plans, where he was responsible for growing and maintaining the customer base across PBM lines of business. His role included oversight of government services, coalitions, and the PBM Marketing team.
Prior to joining CVS Health in 2005, DeVaney managed client relationships at Hewitt Associates, specializing in healthcare consulting and benefits administration. His appointment comes with a focus on making prescription drugs more affordable and enhancing drug pricing transparency through innovation.
Positive
- Internal promotion demonstrates succession planning and leadership continuity
- Appointee brings 20 years of company experience and deep industry knowledge
- Strong focus on PBM business growth and client retention
Negative
- None.
"Ed's ability to build and grow a strong team culture, while prioritizing talent development, leads to strong business results," said CVS Health president and CEO, David Joyner. "His commitment shows every day in his deep understanding of our industry, his advocacy for our business, and a proven track record of anticipating and solving client needs."
"I am honored to take on this role and to work with our dedicated colleagues who are focused on making prescription drugs more affordable and delivering better care to everyone we are privileged to serve," said DeVaney. "The role of PBMs has never been more critical in achieving affordability and access to medicine in our country, and our to drive greater drug pricing transparency through innovation has never been more needed."
DeVaney joined CVS Health in 2005, growing his career across CVS Caremark and Aetna, most recently leading CVS Caremark sales and account management as president, Employer & Health Plans, where he was responsible for growing and retaining our customer base across the PBM's lines of business, including government services and coalitions. He also was responsible for our PBM Marketing team. Before joining CVS Health, Ed managed client relationships at Hewitt Associates, focusing on health care consulting and benefits administration.
About CVS Health
CVS Health® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and over 300,000 dedicated colleagues – including more than 40,000 physicians, pharmacists, nurses and nurse practitioners. Wherever and whenever people need us, we help them with their health – whether that's managing chronic diseases, staying compliant with their medications or accessing affordable health and wellness services in the most convenient ways. We help people navigate the health care system – and their personal health care – by improving access, lowering costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every day. Follow @CVSHealth on social media.
Media contact
Ethan Slavin
860-273-6095
Ethan.Slavin@CVSHealth.com
Investor contact
Larry McGrath
800-201-0938
InvestorInfo@CVSHealth.com
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SOURCE CVS Health
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