WOONSOCKET, Rhode Island -- CVS Health completed its acquisition of Aetna Wednesday.
“Today marks the start of a new day in health care and a transformative moment for our company and our industry,” declared CVS Health President and Chief Executive Officer Larry J. Merlo. “By delivering the combined capabilities of our two leading organizations, we will transform the consumer health experience and build healthier communities through a new innovative health care model that is local, easier to use, less expensive and puts consumers at the center of their care.”
The $69 billion acquisition, announced in December 2017, will drastically remap the health care industry. CVS (CVS) is a massive drugstore chain and prescription insurer, and Aetna (AET) is one of the nation’s largest health insurers.