Vice President, Corporate Development

About the role

The Vice President of Corporate Development will lead enterprise-wide merger, acquisition, divestiture, and strategic investment activity for CVS Health, one of the largest, most diversified, and highly regulated healthcare organizations in the U.S. This role is responsible for shaping and executing CVS Health’s corporate development strategy, advising senior leadership and the Board on inorganic growth opportunities, and leading a best-in-class Corporate Development function. The VP will rebuild and strengthen the Corporate Development organization, establishing operating rigor, credibility, and enterprise partnership across a complex, multi-segment business.

The role spans corporate development activity across CVS Health’s diversified portfolio, including:

• Pharmacy Services / PBM
• Health Care Benefits (payer)
• Retail and Consumer Health
• Provider-adjacent, value-based care, and healthcare services assets
• Digital, data, and analytics-enabled healthcare platforms

The VP must be effective operating across a highly matrixed enterprise with multiple business presidents, shared services partners, and enterprise governance bodies.

Responsibilities

• Strategy & Enterprise Leadership
  • Partner with executive leadership to define and prioritize enterprise-level corporate development strategy aligned with CVS Health’s long-term growth and value creation objectives.
  • Serve as a trusted advisor to the Executive Leadership Team and Board of Directors on inorganic growth, strategic alternatives, capital allocation, and portfolio optimization.
  • Lead and rebuild the Corporate Development function, establishing clear governance, decision frameworks, operating cadence, and performance standards.
• M&A and Investment Execution
  • Lead end-to-end transaction execution including target identification, valuation, diligence, negotiation, structuring, and closing.
  • Develop investment theses, strategic rationales, and scenario-based recommendations for complex transactions.
  • Oversee integration strategy and execution in partnership with business leaders, finance, legal, compliance, and operations—driving value realization in a highly matrixed environment.
  • Evaluate and execute divestitures and strategic exits as part of broader portfolio management.
• Capital Markets & External Relationships
  • Maintain strong, established relationships with investment banks, financial sponsors, and advisors across the healthcare ecosystem.
  • Represent CVS Health externally in M&A discussions and negotiations with credibility and discipline.
  • Ensure market-credible engagement with advisors and counterparties consistent with CVS Health’s scale and reputation.
• Governance, Risk & Regulatory Leadership
  • Ensure all transactions adhere to enterprise governance standards and healthcare regulatory requirements.
  • Incorporate regulatory, reimbursement, antitrust, and government program considerations (including payer, PBM, pharmacy, and provider dynamics) into deal evaluation and execution.
  • Partner closely with legal, compliance, and finance teams to assess and manage financial, operational, regulatory, and reputational risk across the transaction lifecycle.
• Team Development & Culture
  • Build, lead, and develop a high-performing corporate development team with clear roles, accountability, and succession planning.
  • Establish scalable processes, analytical rigor, and best-practice tools to support enterprise-level execution.
  • Lead with an enterprise mindset in a purpose-driven, values-based organization focused on improving health outcomes.

Qualifications

• 15+ years of experience in corporate development, investment banking, private equity, or a relevant combination.
• Significant hands-on experience leading complex M&A transactions from strategy through close.
• Deep expertise in valuation, deal structuring, financial modeling, and transaction governance.
• Demonstrated experience operating within a large, highly matrixed, and regulated enterprise.
• Proven ability to influence senior executives and business presidents without direct authority.
• Track record of rebuilding or transforming a function or team during periods of change.
• Healthcare industry experience, including exposure to payer, PBM, pharmacy, provider, or services businesses.
• Established relationships across the healthcare investment banking and advisory ecosystem.
• Experience supporting Executive Leadership Team and Board level decision making.
• Experience with large-scale acquisitions and complex integrations, not solely tuck-in transactions.

Preferred Qualifications

• MBA or other advanced degrees strongly preferred.

Education

Bachelor’s degree in finance, Economics, Business Administration, or a related field required.

Pay

This pay range represents the base annual full-time salary for all positions in the job grade within which this position falls. The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors. This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above. This position also includes an award target in the company’s equity award program.

Benefits

This full-time position is eligible for a comprehensive benefits package designed to support the physical, emotional, and financial well-being of colleagues and their families, including:

• Medical, dental, and vision coverage
• Paid time off
• Retirement savings options
• Wellness programs
• Other resources, based on eligibility