CVS Health, Aetna clear judge's unprecedented review

The front entrance of a CVS Pharmacy
(Eric Glenn/Shutterstock.com)

CVS Health, Aetna

  • Type of deal: Acquisition 
  • Announcement date: Dec. 3, 2017 
  • Close date: Nov. 28, 2018 
  • Deal value: $69 billion 
  • Name of new company: Aetna and CVS maintain individual branding
  • Total number of employees of combined company: 295,000 across CVS Health 
  • Headquarters of combined company: CVS Health: Woonsocket, Rhode Island; Aetna: Hartford, Connecticut 
  • Leadership of combined company: Larry Merlo, CEO of CVS Health; Karen Lynch, executive vice president of CVS Health and president of Aetna. Aetna maintains its own leadership team. 

What's the latest? Though CVS Health’s acquisition of Aetna closed in late 2018, the deal still dominated headlines through much of 2019 thanks to a federal judge’s probe of the merger. 

Major healthcare groups including the American Medical Association expressed concern that the deal would be anticompetitive in the industry, and Judge Richard Leon also noted his distaste for being treated like a “rubber stamp” by the companies and the Department of Justice to push the deal through. 

Despite these objections and a series of unprecedented Tunney Act hearings that gave the deal’s opponents a day in court, Leon signed off on the merger in early September

CVS Health, Aetna clear judge's unprecedented review

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