It’s Official: CVS and Aetna Get the Go-Ahead to Merge

CVS Health and Aetna received approval to merge from the Department of Justice this week—provided that Aetna follows through on plans to sell its Medicare Part D business to a subsidiary of WellCare Health Plans in order to preserve competition in that market. CVS is already the leader in the Medicare Part D market, with Aetna fifth. The $69 billion deal will blend Aetna’s rich beneficiary data with CVS’s capability to provide point-of-service care, a combination the two parties say will help slow rising healthcare costs. Skeptics have cast doubt on that prospect, however, with some bemoaning the deal will ultimately reduce choices for the general public and cause healthcare costs to go up. CVS is expected to reimagine around 10,000 pharmacies as community health centers, with staff on hand to answer coverage questions and help customers try to manage medical costs better. They also are expected to put more emphasis on managing chronic illness.