CVS Health moves closer to Aetna purchase

December 4 2017 by InsuranceAsia News Staff

CVS Health is reportedly closing in on a deal to acquire health insurer Aetna for more than US$66 billion.

According to a Reuters report, the talks are advanced and would likely see a cash and stock deal.

The deal could be announced as soon as today (Monday, December 4).

If it pushes through, the deal would combine CVS, the largest US pharmacy benefits managers and drugstore chains, with one of the oldest health insurers.

An acquisition could also give CVS more scale to bargain better prices for the prescription drugs it sells on its counters.

The acquisition also comes at a time when Amazon threatens to enter the drug industry.

According to the Reuters report, healthcare consolidation has been a popular route for insurers and pharmacies that are under pressure from the government and large corporations to lower medical costs.