CVS Health Names New Caremark President

Ed DeVaney has been named president of CVS Caremark, the company’s pharmacy benefit management business. DeVaney, who joined CVS Health in 2005, had been in the role on an interim basis since December.

“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.”

DeVaney most recently led CVS Caremark sales and account management as president, Employer & Health Plans, where he was responsible for growing and retaining the company’s customer base across its lines of business.

“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 drive to greater drug pricing transparency through innovation has never been more needed.”

With its CVS Pharmacy subsidiary, Woonsocket, R.I.-based CVS Health has 300,000-plus colleagues – including more than 40,000 physicians, pharmacists, nurses and nurse practitioners. The company is No. 5 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America.