Aetna completes Part D divestiture to WellCare

Morgan Haefner - Print  | 

Aetna closed the sale of its stand-alone Medicare Part D prescription drug plans to WellCare Health Plans Nov. 30.

In October, CVS Health entered into an agreement with the Department of Justice to move forward with its acquisition of Aetna, with the caveat Aetna would sell its stand-alone Medicare Part D prescription drug plans to WellCare.

WellCare will assume control of Aetna's 2.2 million-member business, but Aetna will provide administrative services for the Part D business and take on financial risk associated with the unit through 2019. As a result, WellCare doesn't expect the deal to affect its operations until 2020.

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