CVS opens digital innovation lab

CVS Health (NYSE:CVS) announced the opening of its digital innovation lab in Boston. The facility is focused on designing cutting-edge digital services for a personalized pharmacy and health experience. The site will also serve as a hub for the company's rapidly growing digital team.

The lab's focus will include exploration of mobile, personalization, multichannel e-commerce, connected health and digital therapeutics. CVS also plans to partner with promising startups and mature companies in the digital and health care space.

"At CVS Health, everything we do is to help people on their path to better health, and digital technologies are an amazingly effective way to achieve this," said Brian Tilzer, senior VP and chief digital officer for CVS Health. "Digital technologies are ubiquitous and highly configurable, a powerful combination, because it allows us to empower our customers anytime and anywhere. That's why we are doubling our digital investment, anticipating our customers' increasing preference to manage their health digitally. The opening of this Innovation Lab is a significant step forward on this path."

CVS has been increasingly focused on giving customers a connected health experience, both online and in-store. Earlier this year, the brand rolled out an updated version of its app that allows users to perform key pharmacy and shopping tasks, such as refilling prescriptions, checking for potential drug interactions and redeeming personalized coupons.

The digital innovation lab will run like a startup, getting programs to the market faster by using resources to rapidly test, improve and implement the new programs.

The company current runs a digital experience center in Woonsocket, Rhode Island with more than 100 professionals. The new lab will also employ up to 100 team members.

It's a big launch week for CVS Health as the company also just announced that it will acquire all of Target's (NYSE:TGT) in-store pharmacies and clinics for $1.9 billion.

For more:
-See this CVS Health press release

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