Tampa CVS clinic to close, lay off 53 employees

CVS Health is closing its Coram CVS/Specialty Infusion Services clinic off Benjamin Road in Tampa and laying off its employees, according to a federal document the company filed with local officials. 

The move, detailed in a federal Worker Adjustment and Retraining Notification letter filed Nov. 25, states the Woonsocket, Rhode Island-based drugstore chain will lay off 53 employees. The WARN notice was submitted to Hillsborough County and City of Tampa officials.

The Tampa facility lists its separation period in the WARN notice from employees as Jan. 25, 2025, through Feb. 7, 2025. A spokesperson for the organization could not be reached for comment on the layoffs. 

CVS which has faced heavy competition from Amazon and other e-commerce drug options, in addition to grappling with higher Medicare Advantage costs, made a big investment in the infusion business in 2013. That's when it acquired Coram, an Illinois-based home infusion business, from Apria for $2.1 billion. Some of its services include Alpha-1 augmentation, enzyme replacement and tube feeding.

But in October the company announced it would be exiting the infusion business and closing all 29 of its pharmacies, according to Becker's Hospital CFO Report. The move comes after disappointing third quarter earnings and the replacement of CEO Karen Lynch in recent weeks. The earnings report included $1.2 billion in restructuring charges in the quarter that ended Sept. 30.