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Sep 27, 2018

Aetna to sell one of its prescription plan units to WellCare I Deals I Reuters.

reuters.com


1 Min Read


(Reuters) - Health insurer Aetna Inc (AET.N) said on Thursday it would sell its Medicare Part D prescription drug plan business to WellCare Health Plans Inc (WCG.N) to obtain U.S. approval for its planned $69 billion deal to merge with CVS Health Corp (CVS.N).

AET.N
A logo of Aetna is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson
The proposed deal is currently being reviewed by the U.S. Department of Justice and an approval would make it the second large healthcare deal this year - one that the companies say will help cut soaring costs in the sector. (bit.ly/2zzsZDI)
Reporting by Tamara Mathias in Bengaluru; Editing by Anil D'Silva