CVS: Aetna will keep HQs for 10 years

Aetna will remain in Hartford, Conn., for at least a decade after it is acquired by CVS Health, the pharmacy benefits manager told Connecticut insurance regulators Oct. 3, according to the Hartford Courant.

CVS' proposed $69 billion acquisition of the health insurer also would not change the number of employees at Aetna or its subsidiaries in Connecticut for at least four years post-close, CVS said. As of Oct. 1, Aetna employed 5,300 workers in Connecticut.

CVS and Aetna are awaiting a green light from the Department of Justice to move forward with their deal, which is expected to close later this year. On Sept. 27, Aetna inked an agreement to sell its Medicare Part D drug business to WellCare Health Plans for an undisclosed sum in an effort to appease antitrust concerns.

More articles on payers:
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