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May 2, 2018

CVS: Aetna deal on pace

By Matt Pilon

CVS said Wednesday that its proposed $69 billion acquisition of Hartford-based health insurer Aetna is on pace to close in the second half of this year.

CVS reported first-quarter net income of $998 million, up 4.7 percent from a year ago, one day after Aetna reported its own earnings.

CVS said it is still working to respond to questions the U.S. Department of Justice posed in February, It’s also submitted requiring filings to 28 state insurance regulatory agencies, some of which will hold public hearings.

Meanwhile, the company provided additional information on some of the areas it’s focusing on with Aetna.

Primary patient populations would include people with any of five chronic diseases -- diabetes, hypertension, hyperlipidemia, asthma and depression.

The two are also planning in-store interventions, in-home service, and digital and analytics tools.

“This combination will create an innovative, new healthcare platform that will be easier to use, less expensive for consumers, and integrated broadly within the marketplace to deliver superior, coordinated care,” CVS said in an earnings presentation.

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