CVS Health vs UnitedHealth: Founders, CEOs and History
CVS Health was founded in 1963 by Stanley Goldstein, Sidney Goldstein, Ralph Hoagland and is led by David Joyner. UnitedHealth was founded in 1977 by Richard T. Burke and is led by Stephen J. Hemsley.
Company facts
CVS Health
- Founded
- 1963
- Headquarters
- Woonsocket, Rhode Island
- Current CEO
- David Joyner
- Employees
- 300,000
UnitedHealth
- Founded
- 1977
- Headquarters
- Eden Prairie, Minnesota
- Current CEO
- Stephen J. Hemsley
- Employees
- 390,000
Founders
CVS Health
Stanley Goldstein
CVS Health possesses a pragmatic founding story, rooted not in healthcare innovation, but in the efficient, discount retail model pioneered in the American Northeast.
Sidney Goldstein
Sidney Goldstein joined Stanley Goldstein and Ralph Hoagland in founding Consumer Value Store in Lowell, Massachusetts, in 1963.
Ralph Hoagland
Ralph Hoagland co-founded Consumer Value Store with Stanley Goldstein and Sidney Goldstein in 1963, establishing one of the retail concepts that would eventually grow into the largest integrated healthcare company in the United States.
UnitedHealth
Richard T. Burke
Richard T. Burke founded Charter Med in 1974 and formed United HealthCare Corporation in 1977 to manage newly created health maintenance organizations, starting with the Physicians Health Plan of Minnesota.
CEOs and their tenures
CVS Health
- Thomas Ryan1998–2011
President and Chief Executive Officer
Oversaw national pharmacy expansion, the 1997 Revco deal, and the 2007 Caremark merger that created the PBM core of CVS Health.
Source - Larry Merlo2011–2021
President and Chief Executive Officer
Led the Aetna acquisition and the 2014 removal of tobacco products as CVS repositioned itself as a health company.
Source - Karen Lynch2021–2024
President and Chief Executive Officer
Led CVS through Oak Street Health and other care-delivery acquisitions, but departed during the 2024 Medicare Advantage underwriting crisis.
Source - David Joyner2024–present
Chairman, President and Chief Executive Officer
A longtime pharmacy benefits executive who led CVS Caremark before succeeding Karen Lynch as CEO in October 2024, Joyner has focused on execution over acquisitions: repricing Aetna's Medicare Advantage business, moving CVS Pharmacy to cost-based reimbursement,…
Source
UnitedHealth
- Andrew Witty2021–2025
Chief Executive Officer (Former)
Oversaw revenue growth past $400 billion but stepped down in May 2025, citing personal reasons, as medical costs surged and the company suspended its 2025 guidance.
Source - Stephen J. Hemsley2025–present
Chair and Chief Executive Officer
Under his second term, quarterly net margin recovered to 4.9% in Q2 2026 and 2026 adjusted EPS guidance was raised to $19.50-$20.00.
Source - Tim Noel2025–present
Chief Executive Officer, UnitedHealthcare
Remains UnitedHealthcare CEO after Robert Hunter was named UnitedHealthcare president in September 2026.
Source
Timeline: CVS Health and UnitedHealth side by side
1963CVS Health
Consumer Value Store Founded
Stanley Goldstein, Sidney Goldstein, and Ralph Hoagland open the first Consumer Value Store in Lowell, Massachusetts, as a subsidiary of the Melville Corporation.
1967CVS Health
Pharmacy Services Added
CVS adds its first in-store pharmacies, turning a discount health and beauty chain into a drugstore and creating the prescription traffic that underpins its later health care strategy.
1974UnitedHealth
Charter Med roots
Richard Burke's managed-care business created the roots of UnitedHealth Group.
1977UnitedHealth
United HealthCare formed
United HealthCare Corporation was formed as the company developed health benefit programs.
1984UnitedHealth
Initial public offering
UnitedHealth Group went public in 1984.
1990CVS Health
Peoples Drug Acquisition
CVS acquires Peoples Drug, a chain of approximately 490 stores primarily located in the Mid-Atlantic states including Virginia, Maryland, and the Washington D.C. Metropolitan area.
1996CVS Health
Independence from Melville Corporation
CVS separates from its parent company, the Melville Corporation, and becomes an independent publicly traded company listed on the New York Stock Exchange under the ticker symbol CVS.
1997CVS Health
Revco Drug Stores Acquisition
CVS acquires Revco Drug Stores, a Midwestern chain with approximately 2,500 locations, in what was at the time the largest drugstore acquisition in American history.
1998UnitedHealth
Acquired HealthPartners of Arizona
UnitedHealth Group acquired HealthPartners of Arizona in 1998.
2001UnitedHealth
Acquired AmeriChoice
UnitedHealth Group acquired AmeriChoice in 2001.
2006CVS Health
MinuteClinic Acquisition
CVS acquires MinuteClinic, a walk-in clinic operator staffed by nurse practitioners, adding basic acute and preventive care inside CVS Pharmacy stores.
2007CVS Health
Caremark Merger Creates CVS Caremark
CVS completes a landmark merger with Caremark Rx, one of the largest pharmacy benefit managers in the United States, creating CVS Caremark Corporation.
2011UnitedHealth
Optum brand launched
UnitedHealth organized health services, pharmacy, technology, and analytics businesses under Optum.
2014CVS Health
Tobacco Removal and CVS Health Rebrand
CVS voluntarily removes all tobacco products from its approximately 7,600 stores, forfeiting an estimated $2 billion in annual tobacco revenues.
2018CVS Health
Aetna Acquisition Closes
CVS Health completes the acquisition of Aetna Inc. For approximately $69 billion the largest healthcare deal in U.S. History at the time.
2023CVS Health
Oak Street Health Acquisition
CVS Health closes its roughly $10.6 billion acquisition of Oak Street Health, a value-based primary care network for Medicare patients, weeks after completing the roughly $8 billion purchase of in-home health evaluation company Signify Health.
2024CVS Health
Medicare Advantage Crisis and CEO Transition
Elevated medical utilization drives Aetna's Medicare Advantage business into significant underwriting losses, forcing multiple downward revisions to CVS Health's earnings guidance throughout the year.
2025CVS Health
Record $402.067B Revenue
CVS Health reports record FY2025 total revenues of $402.067B, with net income attributable to CVS Health of $1.768B after goodwill impairment and litigation charges pressure GAAP profitability.
2025CVS Health
Rite Aid Assets and Omnicare Exit
CVS Pharmacy acquires 63 former Rite Aid and Bartell Drugs stores and the prescription files of 626 former Rite Aid pharmacies in 15 states, while long-term care pharmacy unit Omnicare files for Chapter 11 after a roughly $949 million False Claims Act judgment…
2025UnitedHealth
Stephen Hemsley returns
Stephen J. Hemsley was appointed CEO effective immediately in May 2025.
2025UnitedHealth
Revenue reaches $447.6B
UnitedHealth Group reported $447.6 billion in 2025 total revenues.
2026CVS Health
Aetna Recovery Lifts Guidance
CVS reports Q2 2026 revenue of $106.1 billion and net income of $3.0 billion, and raises full-year guidance to at least $414 billion in revenue and $7.90-$8.10 adjusted EPS as Aetna's medical benefit ratio improves to 87.4%.
2026UnitedHealth
Optum UK sold to TPG
The sale of Optum UK to TPG closed on March 13, 2026.
2026UnitedHealth
Guidance raised
After Q2 2026 revenue of $112.0 billion, UnitedHealth raised 2026 adjusted EPS guidance to $19.50-$20.00.
2026UnitedHealth
WellMed Florida stake to TPG
Optum sold an interest in Florida WellMed clinics to TPG in September 2026.
Acquisitions
CVS Health
- Oak Street Health2023$10.6B
- Signify Health2023$8B
- Aetna Inc.2018$69B
- Caremark Rx2007$26.5B
- MinuteClinic2006$170M
- Peoples Drug Stores1990Undisclosed
UnitedHealth
- LHC Group2023$5.4B
- Change Healthcare2022$13B
- Catamaran2015$12.8B
Questions about CVS Health vs UnitedHealth
Who is the CEO of CVS Health Corp. and UnitedHealth Group Incorporated?
CVS Health Corp. is led by David Joyner and UnitedHealth Group Incorporated is led by Stephen J. Hemsley. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was CVS Health Corp. founded vs UnitedHealth Group Incorporated?
CVS Health Corp. was founded in 1963 — 14 years before UnitedHealth Group Incorporated, which was founded in 1977. CVS Health Corp.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger UnitedHealth Group Incorporated.
How many employees does CVS Health Corp. have compared to UnitedHealth Group Incorporated?
CVS Health Corp. employs approximately 300,000 people, while UnitedHealth Group Incorporated employs approximately 390,000. UnitedHealth Group Incorporated has the larger workforce at 390,000 employees, compared to CVS Health Corp.'s 300,000. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are CVS Health Corp. and UnitedHealth Group Incorporated headquartered?
Both CVS Health Corp. and UnitedHealth Group Incorporated are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded CVS Health Corp. and UnitedHealth Group Incorporated?
CVS Health Corp. was founded by Stanley Goldstein, Sidney Goldstein, Ralph Hoagland. UnitedHealth Group Incorporated was founded by Richard T. Burke.
Which company has a longer operating history — CVS Health Corp. or UnitedHealth Group Incorporated?
CVS Health Corp. has been operating for approximately 63 years, making it the more established of the two companies. UnitedHealth Group Incorporated has been in operation for around 49 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the CVS Health vs UnitedHealth overview