CVS Health to Buy Aetna
By Sarah Maugaotega 12/6/2017
CVS Health is looking to be “America’s front door to healthcare,” according to CEO Larry Merlo.
CVS Health will buy Aetna for $69 billion. The acquisition pairs a company with over 9,700 pharmacy stores with a company that ensures over 20 million Americans.
The transaction is one of the biggest of the year and comes at a time when healthcare is a mainstream political topic.
Certain healthcare programs, like Medicare, could be changed as a result of the Republican plan to cut taxes. Merlo said CVS’s purchase could provide a one-stop-shop for health and would benefit consumers the most.
Last month the U.S. Justice Department said it was suing AT&T to stop its purchase of Time Warner cable because of the overlap in products the two companies share. Aetna previously tried to acquire Humana, in an effort to expand business, but the deal fell through. The CVS Aetna merger still has to get past antitrust regulators, for which there is no guarantee.