The fund provides $ 175 billion to hospitals and health care providers involved in the coronavirus response, according to the HHS website.
“We made the decision to return the funds and forgo participating in future disbursements,” said Merlo. “In doing so, we hope to help HHS provide additional support to other providers who are facing significant financial challenges as a result of the pandemic.” “
CVS Health (( continued to operate during the pandemic. In March, the company announced that it would hire 50,000 people across the United States. )
And in April, the company announced that it would expand the testing capabilities of Covid-19.
Yet the pandemic weighed heavily on the company’s stocks, as it did on the rest of Wall Street. CVS shares have been down more than 14% since the start of the year.