CVS Closes in on Aetna CVS, which operates the massive Caremark pharmacy benefits manager as well as the CVS drugstore chain, is closing in on a deal to buy Aetna in a deal for more than $66 billion in cash and stock. The Wall Street Journal reported the deal could be announced as early as Monday and would value Aetna at between $200-$205 a share. The deal will make CVS a huge presence in virtually all areas of health care, a scale that it apparently hopes will defend it against the ravages of Amazon, if Jeff Bezos ever fancies a swing at the pharmacy business. Fortune
the health business is always problematic . it looks like CVS is paying top dollar after a long run up in aetna.
CVS merger raises questions about Aetna's future in Conn. If approved, CVS Health's takeover of Aetna would spell the end of independence for the health insurer – founded 164 years ago in Hartford – and raise questions about Aetna’s future corporate presence in Connecticut. On a call with investors, the CEOs of CVS Health and Aetna didn't mention Hartford or employment, except to say some of the $750 million in merger “synergies” were expected from the elimination of “redundant” corporate functions.(Hartford Courant)
CVS Seeks a Cure CVS Health announced yesterday that it's launching delivery of prescription drugs and other medications across the country. The move comes as CVS looks to retain customers as Amazon reportedly eyes the drug prescription market. It also comes as CVS struggles with declining sales of general merchandise and shopper visits at its drugstores. Fortune