CVS Corporation has entered into a definitive agreement to acquire Minneapolis-based MinuteClinic, the pioneer and largest provider of retail-based health clinics in the United States. After which, MinuteClinic will operate as a wholly-owned subsidiary of CVS Corporation.

"We are very pleased to be joining the CVS family. MinuteClinic began working with CVS more than 18 months ago and it was clear to us from the beginning that CVS really understands what the MinuteClinic model is all about. They have been a great partner working with us to open MinuteClinics in markets nationwide," said MinuteClinic Chief Executive Officer Michael Howe.

MinuteClinic stations are staffed by certified nurse practitioners and physician assistants that offer treatment for common family illnesses, such as strep throat, ear infections, poison ivy and pink eye. Also providing common vaccinations, these health clinics are intended to be a supplement but not a replacement of a patient's relationship with a primary care provider.

The transaction is expected to be completed this summer while financial terms were not disclosed.

Read more at CVS Corp. Pressroom.