Dive Brief:
- CVS Health has made several changes to the leadership of its care delivery businesses, a spokesperson for the healthcare giant confirmed Thursday.
- Jon Thiboutot, a CVS vet for more than two decades who most recently served as MinuteClinic’s vice president of operations, has been named president of retail health at CVS.
- Additionally, Paymon Farazi, president of CVS-owned home health firm Signify Health, will leave the company later this month. Marcus Lanznar, previously vice president of product and operations at Signify, has stepped into the role effective immediately, according to a spokesperson.
Dive Insight:
Farazi joined Signify in 2022 as chief product officer, the year before the company was acquired by CVS for $8 billion. His successor Lanznar started at the company in 2020, the spokesperson said.
“This wasn’t an easy call—I’ve grown deeply attached to the team, the culture we’ve forged, and the impact we’ve made together,” Farazi said in a LinkedIn post this week.
Additionally, a longtime CVS employee will step up to lead CVS’ retail health business. Thiboutot is replacing Dr. Creagh Milford, who in May was named president of Oak Street Health, CVS’ chain of value-based medical clinics for seniors that was also acquired by the healthcare giant in 2023.
Milford had held both roles for several months. He’ll now exclusively focus on Oak Street, the spokesperson said.
CVS operates a range of healthcare businesses, including insurer Aetna, pharmacy benefit manager Caremark and a chain of retail pharmacies.
After struggling with heightened medical costs in its insurance arm last year, CVS’ performance has improved in 2025. The healthcare behemoth increased its adjusted earnings outlook after reporting second-quarter earnings in July.
However, adjusted operating income in its health services unit, which includes Caremark as well as CVS’ health delivery assets, fell 18% year over year, partially due to a higher medical loss ratio at Oak Street.
