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CVS Health appoints new permanent CFO and President of Health Care Delivery

CVS Health has made announcements regarding the appointment of permanent executives. Tom Cowhey, who has been serving as the company’s interim chief financial officer since October, has now been appointed as permanent CFO. In addition, Mike Pykosz, the CEO of Oak Street Health and interim lead of Health Care Delivery, has been formally appointed as President of Health Care Delivery.

Tom Cowhey has been with CVS Health since February 2022 and previously served as CFO of Surgery Partners Inc. He has a strong background in health care, having previously spent more than a decade at Aetna in various strategy and finance roles. Since joining CVS Health, he has overseen investor relations, corporate development, treasury and finance operations, working closely with other executives to manage the company’s overall financial strategy.

Mike Pykosz joined CVS Health following the acquisition of Oak Street Health. As CEO and cofounder of Oak Street, he has built it into a leading multi-payer, value-based primary care platform. During his time at CVS Health, Pykosz has been focused on continuing to run the Oak Street business, while also helping to unify all of CVS Health’s care-delivery assets.

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Impact and Financial Performance

Tom Cowhey’s appointment as permanent CFO and Mike Pykosz’s appointment as President of Health Care Delivery signal continuity and strong leadership within CVS Health. They are expected to drive the company’s strategy and deliver on its financial commitments.

While financial results for Q4 are not yet available, CVS Health logged strong earnings and revenue performance during the third quarter, hitting $2.3 billion in profit. Total revenues increased to $89.8 billion for the quarter and $264 billion for the year, up 10.6% compared to the prior year. Generated cash flow from operations reached $16.1 billion over that time.

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Continued Innovation and Adaptation

CVS Health has been navigating a challenging business environment, but has adapted to consumers’ changing needs by broadening care access and lowering costs. The company is focused on unlocking innovation and value in its healthcare delivery strategy, with confidence in the leadership of Tom Cowhey and Mike Pykosz.

The AI legalese decoder can aid in examining and understanding the legal and regulatory challenges faced by CVS Health, providing insights into the company’s efforts to innovate and adapt to the changing healthcare landscape.

Twitter: @JELagasse
Email the writer:┬á[email protected]

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