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April 17, 2018

CVS, seeking to expand MinuteClinics, just nabbed Iora Health's CMO

Daily Briefing

    CVS Health has hired Marc-David Munk, former CMO of Iora Health in Boston, to serve as CMO of the drugstore chain's retail medical clinic division, Minute Clinic, and as associate CMO of CVS Health.

    The news comes as CVS pursues its proposed merger with Aetna, which—if approved by federal regulators—would likely form the largest U.S. health insurer and pharmacy benefits manager. According to CNBC, CVS' MinuteClinics are a key part of the deal.

    About CVS' new hire

    According to CVS, Munk will oversee patient care strategy development and implementation at MinuteClinic.

    Retail clinics form a rapidly growing segment of the health care field, and CVS MinuteClinic is a giant within the arena: Since its launch in 2000, it has expanded to become the largest provider of retail clinics in the country, Reuters reports.

    But CVS isn't just opening more clinics—it's also expanding the services offered within each clinic. A CVS official in February told a congressional panel that the company plans to nearly double the number of services its MinuteClinics offer to include about 90% of services typically provided in primary care settings.

    In Munk, CVS has hired a health care executive with a reputation as an innovator in primary care, CNBC reports. Troyen Brennan, CMO of CVS Health, said Munk will bring his innovative experience to MinuteClinic and CVS as a whole. He said Munk's "impressive" background "will not only lead to care delivery enhancements, but also to further innovation as we look for ways to expand and integrate health care services across our business."

    In response to Munk's departure, a spokesperson for Iora said the company "wish[es] Marc the best as he continues on the journey to improve care" (Paavola, Becker's Hospital Review, 4/13; Reuters, 4/13; Farr/LaVito, CNBC, 4/13).

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