CVS Health returns $ 43 million in relief funds for coronaviruses


In a letter to the Secretary of Health and Social Services, Alex Azar, CVS general manager Larry Merlo, said Tuesday that his company had received the funds as part of the relief fund for CARES providers. He said it was an automatic HHS distribution and CVS did not ask for the money.

CVS sent false information about coronaviruses to staff

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 ((CVS) 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.


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