CVS Will Buy Aetna for $69 Billion in a Deal That Could Reshape the Health Industry
WOONSOCKET, RI -- Drugstore giant CVS is buying Aetna insurance in a 69-billion-dollar deal.
The agreement was announced yesterday after the boards of both companies unanimously approved it. CVS says combining the two companies gives them a unique chance to give people access to high-quality healthcare at a lower cost.
If regulators sign off on the mega-merger, CVS would provide a broad range of health services to the 22-million Aetna medical members inside its nationwide network of pharmacies and walk-in clinics. It would also decrease the drugstore giant's reliance on the retail sales that face increased competition.
(PHOTO: Getty Images / Bloomberg)