CVS Health Appoints Derica W. Rice as President of CVS Caremark

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Mar 20, 2018, 04:44 ET

WOONSOCKET, R.I., March 20, 2018 /PRNewswire/ -- CVS Health (NYSE: CVS) announced today that Derica W. Rice will join the company as President of CVS Caremark, the company's pharmacy benefit management (PBM) business, as of March 30, 2018. In this role, Rice will have day-to-day leadership and oversight of the PBM business including sales and account management, operations, mail service pharmacy and specialty pharmacy. Rice will also focus on driving PBM strategy, new business development and client relationship management and retention.

"Our PBM clients and the members they serve are asking for innovation, especially around value-based reimbursement models and the role pharmacy can play in improving health outcomes and lowering total health care costs," said Jon Roberts, chief operating officer of CVS Health. "We believe Derica is a great addition to our team, and the experience he brings with regard to innovation in these value-based models in particular will help us continue to serve our clients' needs while also developing and delivering innovative solutions and offerings."

Rice brings to CVS Caremark nearly 30 years of experience as a health care executive with a strong track record of delivering results in leadership positions. Rice joins CVS Health from Eli Lilly and Company where he most recently served as executive vice president of global services and chief financial officer. During his 27-year career at Eli Lilly, Rice was a key player in helping to drive the company's innovation strategy and held numerous roles in finance and operations, including as chief financial officer for Lilly Canada, general manager of Lilly's U.K. affiliate, executive director and chief financial officer of European operations, and as Eli Lilly's vice president and controller.

Rice earned his master's degree in business administration from Indiana University and a bachelor's degree in electrical engineering from Kettering University.

About CVS Health
CVS Health is a pharmacy innovation company helping people on their path to better health. Through its more than 9,800 retail locations, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with more than 94 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan, the company enables people, businesses and communities to manage health in more affordable and effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.

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SOURCE CVS Health