CVS Health has announced plans to close 900 of its 9.900 existing stores over the next three years.

Saying they have been evaluating changes in population, consumer buying patterns, and future health needs, executives of the pharmacy chain stated in a news release that it will reduce store density in some locations.

The company has not announced which stores will be closed but stated that it intends to close approximately 300 stores a year over the next three years beginning next spring.

"Our retail stores are fundamental to our strategy and who we are as a company," said Karen S. Lynch, President and CEO of CVS Health. "We remain focused on the competitive advantage provided by our presence in thousands of communities across the country, which complements our rapidly expanding digital presence."

CVS says the planned closings are among several steps to support a strategy of making health care more affordable, accessible, and convenient.

Executives say CVS will create three new store formats to drive higher engagement with consumers including sites dedicated to offering primary care services, an enhanced version of HealthHUB locations with products and services designed for everyday health and wellness needs, as well as traditional pharmacies that provide prescription services and health, wellness, personal care and other retail goods.