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WOONSOCKET, R.I. — CVS Health has named Ed DeVaney president of the company’s CVS Caremark pharmacy benefit management business. He was named interim president in December 2024. DeVaney will report to Prem Shah, group president, CVS Health.
“Ed’s ability to build and grow a strong team culture, while prioritizing talent development, leads to strong business results,” said CVS Health president and CEO, David Joyner. “His commitment shows every day in his deep understanding of our industry, his advocacy for our business, and a proven track record of anticipating and solving client needs.”
DeVaney said of the new position, “I am honored to take on this role and to work with our dedicated colleagues who are focused on making prescription drugs more affordable and delivering better care to everyone we are privileged to serve. The role of PBMs has never been more critical in achieving affordability and access to medicine in our country, and our drive to greater drug pricing transparency through innovation has never been more needed.”
DeVaney joined CVS Health in 2005 and has since grown his career across CVS Caremark and Aetna. Most recently, he led CVS Caremark sales and account management as president of Employer & Health Plans. In this role, he was responsible for growing and retaining our customer base across the PBM’s lines of business, including government services and coalitions. He was also responsible for our PBM Marketing team. Before joining CVS Health, Ed managed client relationships at Hewitt Associates, focusing on health care consulting and benefits administration.
