WASHINGTON (Reuters)—Pharmacy chain CVS Health Corp won U.S. antitrust approval for its $69 billion acquisition of health insurer Aetna Inc, the Justice Department said on Wednesday, paving the way for a combination the companies say can help cut soaring U.S. healthcare costs. It is the second large recent healthcare deal to win a thumbs up…
Aetna, Seeking Antitrust Nod, Sells Medicare Drug Business to WellCare
(Reuters)—Health insurer Aetna Inc said on Thursday it will sell its standalone Medicare prescription drug plan business to WellCare Health Plans Inc as it seeks U.S. antitrust approval for a planned acquisition by CVS Health Corp. The $69 billion CVS-Aetna deal would be the second large deal this year between insurers and pharmacy benefit managers,…
AMA Opposes Merger of CVS & Aetna
WASHINGTON (Reuters)—the The American Medical Association, which represents U.S. physicians, urged the U.S. Justice Department on Wednesday to stop CVS Health Corp’s plan to buy insurance provider Aetna Inc, saying the deal could result in higher prices for prescription medicines. The AMA said that the $69 billion deal, announced in December, would lead to a…
CVS Health to Acquire Aetna for $69 billion
(Reuters)—U.S. drugstore chain operator CVS Health Corp said on Sunday it had agreed to acquire U.S. health insurer Aetna Inc. for $69 billion, seeking to tackle soaring healthcare spending through lower-cost medical services in pharmacies. This year’s largest corporate acquisition will combine one of the nation’s largest pharmacy benefits managers (PBMs) and pharmacy operators with…
Aetna CEO Urges Debate on What ‘Single-Payer’ Healthcare Would Be
NEW YORK (Reuters)—Aetna Inc, Chief Executive Officer Mark Bertolini wants a debate about what a single-payer healthcare system in the U.S would look like, but says he does not think the federal government should run it. “I think government-run healthcare would be a bad idea,” Bertolini says during an investor conference on Frida. The government’s…
Aetna Fully Exits Obamacare Exchanges with Pull-Out in 2 States
(Reuters)—Health insurer Aetna Inc said on Wednesday it will exit the 2018 Obamacare individual insurance market in Delaware and Nebraska – the two remaining states where it offered the plans. Aetna had already said it would exit the individual commercial market in Virginia and Iowa, after pulling out of several other states last year. Aetna…
Aetna CEO Warned It Would Cut Obamacare If Humana Deal Was Blocked
NEW YORK (Reuters)—Aetna Inc.’s CEO said in a letter to the U.S. Department of Justice (DOJ) during the review of its deal to buy rival Humana Inc that the insurer would exit much of the individual Obamacare insurance market if the agency challenged the merger. In the July 5 letter, Chief Executive Officer Mark Bertolini…
Aetna Pulls Back on Obamacare Health Insurance Plans in 2017
NEW YORK (Reuters)—Aetna Inc., the No. 3 U.S. health insurer, on Monday said that due to persistent financial losses on Obamacare plans, it will sell individual insurance on the government-run online marketplaces in only four states next year, down from the current 15 states. Aetna’s decision follows similar moves from UnitedHealth Group Inc. and Humana…
U.S. Regulators Sue to Block Anthem-Cigna & Aetna-Humana Mergers
NEW YORK (Reuters)—U.S. antitrust officials on Thursday moved to block an unprecedented consolidation of the national health insurance market, filing suit against Anthem Inc.’s proposed purchase of Cigna Corp. and Aetna Inc.’s planned acquisition of Humana Inc. The U.S. Department of Justice (DOJ) says the two mergers would reduce competition, raise prices for consumers and…
U.S. Justice Department Has Concerns about Aetna-Humana Deal
(Reuters)—The U.S. Department of Justice has significant concerns about Aetna Inc.’s proposed acquisition of health insurer Humana Inc., a source familiar with the situation said on Thursday, and shares of Humana fell more than 11%. Aetna’s purchase of Humana would combine two of the largest providers of Medicare Advantage plans for elderly people, and investors…