Today: 01/04/2018, per MSN Internet post: Aetna is as good as gone as an independent company. Pharmacy and managed care company CVS Healthcare announced in early December that it agreed to buy Aetna for $69 billion in what would be the biggest acquisition in 2017.
CVS wants to buy Aetna to get millions of Aetna members to CVS’s retail pharmacies and minute clinics. CVS is also making the deal to give it more leverage in the event Amazon enters the retail pharmacy business.
Aetna, the nation’s third-biggest health insurer, reported third-quarter revenue of $15 billion and net income of $838 million. Aetna has nearly 47 million customers. The predecessor to the managed health care and health insurance operation was founded in 1853 as Aetna Life Insurance Company.
One person who might not be unhappy about the demise of Aetna is current CEO Mark Bertolini, who could make as much as $500 million in stock and cash when the deal closes.