Joe Cullina ’16 pitched CVS Health Corporation to the Student Managed Investment Fund (SMIF) on February 10, 2016. CVS is an integrated pharmacy health care company with three reportable business segments: Pharmacy Services, Retail Pharmacy and Corporate. The pharmacy services arm of the business provides pharmacy benefits management (PBM) to employers, insurance companies, and government entities. This segment works with health providers to secure cheaper pharmaceutical solutions while improving clinical outcomes for plan members– a large potential source of growth for the company. Joe expressed confidence in the future guidance of the company, citing a trustworthy management team. Additionally, given a volatile start to 2016, Joe expressed pessimism towards consumer discretionary spending and stressed the limited risk associated with consumer staples and potential growth derived from their role in health care. The class agreed and voted unanimously to purchase CVS.