4.30.2007 - 01:22pm ET

(CSRwire) WOONSOCKET, RI - April 30, 2007 - The CVS/Caremark Charitable Trust, the private foundation created by CVS/Caremark Corporation, announced today that it plans to award a five-year $2.5 million grant to the Rhode Island Quality Institute to fund its ongoing work to improve the health and health care of Rhode Islanders.

"The CVS/Caremark Charitable Trust is honored to support the Rhode Island Quality Institute and the many critical projects they are undertaking to transform health care in Rhode Island," said Eileen Howard Dunn, Vice President of the CVS/Caremark Charitable Trust. "We believe the collaborative efforts that are being spearheaded by the Rhode Island Quality Institute will have a positive and lasting impact on healthcare here in Rhode Island, and across the country."

The Rhode Island Quality Institute is a collaborative effort among health care providers, health insurers, consumers, business, academe, government and other key leaders within the health care community. The Institute's mission is to significantly improve health care quality, safety and value in Rhode Island.

"This major funding grant from CVS/Caremark Charitable Trust is a further demonstration of the tremendous collaboration around health care and health care improvement that exists here in Rhode Island. This grant will help to accelerate ongoing activities and programmatic initiatives that will make a difference in the lives of all Rhode Islanders," commented Laura Adams, President and Chief Executive Officer of Rhode Island Quality Institute. "We look forward to moving ahead on many of our key initiatives, including the adoption of health information technology, with the help of this new funding."

Among other activities, the Rhode Island Quality Institute is leveraging the state’s unique characteristics to demonstrate how the healthcare system can be improved through collaborative innovation; foster connectivity between and among the health care team and the patient; and increase accuracy, responsiveness and effectiveness in health care.

"We appreciate this significant grant from CVS/Caremark Charitable Trust to the Rhode Island Quality Institute," commented George Vecchione, Chair, Rhode Island Quality Institute, and President and CEO, Lifespan Corporation. "It will fulfill our mission and vision as it relates to dramatically improving health care quality and safety across the state of Rhode Island."

Governor Donald Carcieri and members of the Rhode Island Delegation highlighted the beneficial activities the Rhode Island Quality Institute will undertake with the additional funding granted by CVS/Caremark Charitable Trust.

"The adoption of health information technology in Rhode Island has been one of my administration's top health care priorities," said Governor Donald Carcieri. "The Rhode Island Quality Institute has been at the forefront of this important health care reform effort. Enabling health care providers to access critical patient information electronically will improve patient safety while reducing health care costs throughout the state."

This is a major step forward for health care in Rhode Island, and I congratulate CVS/Caremark Charitable Trust's strong commitment to quality," said Senator Sheldon Whitehouse, who as Attorney General founded the Rhode Island Quality Institute in 2001. "CVS/Caremark Charitable Trust understands that higher-quality care means lower costs, a more efficient system, and, most importantly, healthier patients—and this partnership with the Rhode Island Quality Institute recognizes that when we invest in quality, everyone benefits. Our national health care system is badly in need of serious reform. In the Senate, I'm working to strengthen federal support for organizations like the Rhode Island Quality Institute, to encourage more regions around the country to seek collaborative local solutions for their health care challenges."

"By focusing on health care transformation issues in Rhode Island, including promoting policies that improve quality and patient safety, we will be able to save hundreds of lives each year, not to mention millions of dollars by reducing complications," said Congressman Patrick Kennedy, a nationally recognized leader on health care issues, especially in the areas of information technology and behavioral health.

About the CVS/Caremark Charitable Trust
The CVS/Caremark Charitable Trust, Inc. is a private foundation created by CVS/Caremark Corporation (NYSE: CVS). CVS/Caremark is the nation’s premier integrated pharmacy services provider, combining one of the nation’s leading pharmaceutical services companies with the country’s largest pharmacy chain. The Trust's mission is to provide funding for health care, education and community involvement initiatives in communities where CVS/pharmacy stores are located. General information about CVS/Caremark is available through the Investor Relations portion of the Company's Web site at http://investor.cvs.com, or through the Web site's press room at www.cvs.com/pressroom.

About the Rhode Island Quality Institute (RIQI)
The Rhode Island Quality Institute (RIQI) is a statewide collaboration of hospitals, physicians, health insurers, consumers, business, government and academia working together to significantly improve health care in Rhode Island. Founded in 2001, the RIQI's strategic focus includes building a statewide health care information exchange and interoperability and ensuring the adoption of Electronic Health Records (EHRs) as the foundation for continual improvement in the quality of care. The RIQI is leveraging Rhode Island's unique characteristics (small size, line of sight trust, and governmental accessibility) to demonstrate how the health care system can be improved through collaborative innovation. More information about the RIQI is available at www.riqi.org.

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