CVS Caremark Appoints Dr. William Shrank as Chief Scientific Officer and Chief Medical Officer, Provider Innovation and Analytics

PRESS RELEASE

WOONSOCKET, R.I., Nov. 12, 2013 /PRNewswire/ -- CVS Caremark (NYSE: CVS) today announced the appointment of William Shrank, MD to the position of Chief Scientific Officer and Chief Medical Officer, Provider Innovation and Analytics. In this role, Dr. Shrank will focus on the development of innovative pharmacy solutions to help improve the quality of care while lowering costs in order to help health care providers deliver services to distinct patient populations. Dr. Shrank will oversee the company's overall research and clinical program development with the goal of delivering new methods of evaluating innovative programs and initiatives.

Dr. Shrank has extensive experience in pharmaceutical outcomes research and has published extensively on topics including the evaluation of various pharmacy benefit designs, the Medicare Part D Prescription Drug benefit, medication adherence for chronic conditions and ensuring high-quality patient communications regarding the risks and benefits of prescribed medications. Prior to joining CVS Caremark, Dr. Shrank was a practicing physician with Brigham Internal Medicine Associates as well as an Assistant Professor at Harvard Medical School. Previously Dr. Shrank served as Director, Research and Rapid-Cycle Evaluation for the Center for Medicare & Medicaid Innovation at the Centers for Medicare & Medicaid Services (CMS).

"As CVS Caremark continues to focus on identifying and developing innovative pharmacy care programs that improve outcomes and reduce overall costs, Will's depth of experience as a researcher make him uniquely qualified to oversee our research agenda," commented Troyen A. Brennan, MD, MPH, Executive Vice President and Chief Medical Officer of CVS Caremark. "His insights and expertise will enable us to continue to develop new solutions to improve care and quality for patients dealing with chronic disease."

"I look forward to working with the team at CVS Caremark to find new ways to further the company's research efforts," said Dr. Shrank. "To date, CVS Caremark has built a strong reputation as a leader in medication adherence research and we look forward to expanding upon this focus and uncovering new learnings to help our clients improve outcomes while managing cost."

Dr. Shrank received his Medical Degree from Cornell University Medical College, his Masters of Science degree in Health Services from the University of California at Los Angeles and his Bachelor's Degree from Brown University.