Since 1998 when he took over as the chief of CVS, Tom Ryan has been focused on growing the company. Under his leadership, CVS has aggressively gone after acquisitions of smaller drugstore chains and independents to increase the number of stores operated by the company by 50 percent.
The company launched itself into the in-store medical clinic business with its takeover of MinuteClinic last year. Another deal negotiated last year but not yet finalized -- the acquisition of pharmacy benefits manager Caremark -- faces some hurdles but Mr. Ryan is said to be confident that it will go through.
"What's distinguished CVS has been their size and their aggressiveness. When they see an opportunity to purchase more stores or have a bigger presence in an area, they move on it...people try to keep up or follow his lead." Carmen A. Catizone, executive director of the National Association of Boards of Pharmacies, told The Boston Globe.
For all its clout, CVS does face internal performance challenges. Massachusetts' Board of Pharmacy, for example, had CVS sign an agreement to have its pharmacies monitored by an independent agency after what the Globe described as "scores" of complaints from consumers about prescription errors.
For his part, Mr. Ryan said the issues faced in Massachusetts are not confined to CVS but the company "can always look to do better."
Discussion Question: What is your assessment of the path Tom Ryan has taken CVS on?