CVS-Aetna merger approved, with conditions
NEW YORK – The proposed $69 billion merger between CVS Health and Aetna is getting a greenlight from the Department of Justice, with some conditions.
The Justice Department on Wednesday approved the deal on the condition that Aetna moves ahead with its plan to sell its Medicare Part D prescription drug plan business, resolving some anti-monopoly issues.
Aetna announced last month it would sell the business for an undisclosed amount.
CVS announced plans to buy Hartford, Connecticut’s Aetna late last year. The deal is expected to give the Woonsocket, Rhode Island, drugstore chain a bigger role in health care, with the companies combining to manage care through CVS stores, clinics and prescription drugs.