CVS Caremark reached an agreement with Navarro, the largest Hispanic owned drugstore chain in the U.S., to acquire 33 stores and Navarro Health Services, a specialty pharmacy serving patients with complex or chronic diseases. CVS Caremark operates more than 7,600 stores, but said it will continue operating the acquired units under the Navarro banner.
Navarro caters to South Florida’s heavily Hispanic and ethnic marketplaces and further differentiates itself by offering many products and services that are less prevalent in traditional drugstores such as wireless phones and designer fragrances.
Navarro Health Services focuses in disease therapy management for patients suffering from chronic illnesses, specializing in HIV and Oncology.
After evaluating the specialty opportunity, Navarro Discount Pharmacy decided it was time to take an offensive and defensive approach to provide specialty pharmacy services to better cater to its current base of patients as well as attract a new patient base.
Starting a specialty business, Navarro Health Services which is growing by double digits allowed the company to expand outside of its “brick and mortar” geographical areas to realize top-line revenue growth.
Navarro Health Services provides a unique valuable combination—“small company” entrepreneurial spirit and “large company” processes and best practices.