Retail and pharmacy giant CVS in reportedly in talks to buy Aetna, one of the largest health insurers in the U.S., in a deal valued at more than $66 billion.
The rumored deal, first reported by The Wall Street Journal, would reportedly involve CVS paying more than $200 per share for Aetna. The price tag would be well above the insurer megamergers which fell apart earlier in 2017: the $54 billion acquisition of Cigna by Anthem and Aetna’s own $37 billion deal to buy Humana.
Aetna has a market cap of about $53 billion, according to Reuters. The two already work together under a pharmacy benefits contract. If the sale were to go through, the combined company would have roughly $240 billion in annual revenue, giving them significant bargaining power over providers and displacing UnitedHealth as the largest health insurer and pharmacy benefits manager.
Neither Aetna or CVS would comment on the sale to HealthExec, with spokesmen at both companies saying it’s their policy not to comment on rumored transactions.
John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.