CVS Pharmacy is a subsidiary of the American retail and health care company CVS Health, headquartered in Woonsocket and Rhode Island.It was also known as and originally named the Consumer Value Store and was founded in Lowell and Massachusetts in 1963. The chain was owned by its original holding company Melville.CVS Pharmacy is a subsidiary of the American retail and health care company CVS Health, headquartered in Woonsocket and Rhode Island.It was also known as and originally named the Consumer Value Store and was founded in Lowell and Massachusetts in 1963. The chain was owned by its original holding company Melville.