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WOONSOCKET, R.I. — Leading officials of CVS Health were to meet Monday with an investor who is proposing operational upgrades for the company, the Wall Street Journal reported.
Larry Robbins, founder of health care-oriented hedge fund Glenview Capital Management, is said to have a significant portion of the fund's holdings in CVS. The meeting reportedly could presage an activist engagement from him in dealings with the company.
Robbins was to meet with CVS chief executive Karen Lynch to present proposals to energize the company but not break it up, the report in the Wall Street Journal said.
The Journal quoted a CVS spokesman saying the company “maintains a regular dialogue with the investment community as part of our robust shareholder and analyst engagement program. Beyond that, we cannot comment on engagement with specific firms or individuals.”
CVS Health Corp.'s stock rose 1.7% Monday after a report surfaced of a meeting.
