CVS Well being (NYSE: CVS) has lately undergone a strategic shift to focus extra on healthcare companies, in addition to residence healthcare companies. Now it seems it might be getting ready to a showdown with an activist investor.

CVS Well being leaders reportedly met with Glenview Capital — the alleged activist investor — on Monday to debate methods to “enhance operations,” based on The Wall Road Journal.

12 months over 12 months, CVS shares are down practically 10%. Nevertheless, shares of the retail big are down greater than 20% 12 months thus far.

The corporate additionally introduced Monday that it might lay off 2,900 workers, most of which might be company positions.

Within the wake of COVID-19, CVS Well being started shifting its enterprise technique, as did its peer Walgreens Boots Alliance (Nasdaq: WBA).

Each firms determined to delve deeper into healthcare, partially due to the success that they had as vaccine directors in the course of the pandemic. CVS Well being final 12 months acquired major care supplier Oak Road Well being, in addition to home-focused, value-based care platform Signify Well being. In whole, these acquisitions value CVS $18 billion.

These firms assist type CVS Well being's healthcare division, which is named CVS Healthspire.

Throughout the newest earnings name, CVS President and CEO Karen Lynch reaffirmed its dedication to that section going ahead.

“We attempt to ship worth to our clients and our members each day,” stated Lynch. “In our healthcare enterprise, we’re making significant progress by connecting sufferers to healthcare companies throughout all our channels: major and acute care, residence healthcare companies and medical packages.”

CVS Well being additionally owns Aetna, one of many nation's largest insurers. Aetna President Brian Kane was faraway from his place final month after lower than a 12 months in workplace.

It was not clear Monday what Glenview Capital may wish to cost CVS Well being sooner or later. The corporate is a New York-based hedge fund.