University of Richmond

CVS to buy Aetna for $69 billion in deal that would shake up healthcare industry

CVS to buy Aetna for $69 billion in deal that would shake up healthcare industry

CVS Health Corp. plans to buy Aetna Inc. for $69 billion in a blockbuster deal that would further consolidate the U.S. healthcare industry by merging the nation’s largest pharmacy chain with a major healthcare insurer, the companies announced Sunday.

The deal, which was approved by both companies’ boards of directors, combines the 9,700 drugstores and 1,100 walk-in healthcare clinics operated by CVS with Aetna’s 22 million medical members. CVS agreed to pay $207 a share for Aetna, with $145 in cash and the rest, $62, in CVS stock.

For consumers, the merger would be the latest example of how the sale of drugs and other healthcare services, including patient treatment and...

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