States want to weigh in on $69B CVS-Aetna merger
Five states have voiced they want to testify at an upcoming July hearing in the ongoing court review of the $69 billion CVS Health acquisition of Aetna.
The deal, which was approved by the Department of Justice and other regulators and completed in 2018, is still facing one major challenge. Federal judge Richard Leon has presided over the case, allowing representatives from industry groups to testify in opposition to the merger, along with CVS and Aetna reps in favor of the transaction, in June. In the eyes of Leon, the deal may not have met all antitrust concerns after previously stating the transaction was given a rubber stamp approval from regulators.
California, Florida, Hawaii, Mississippi and Washington wrote the court to ask to weigh in on the review with 10 minutes of oral arguments on July 17.
The states, along with the DOJ, previously agreed the deal could move forward if Aetna sold off its Medicare Part D prescription drug business. Aetna sold that business to WellCare Health Plans.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."