CVS Health shareholders approve $69bn CVS Health Aetna merger

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CVS Health Aetna merger : Stockholders of US-based retail pharmacy chain CVS Health have approved CVS Health acquisition of Aetna for $69 billion.

The merger of the retail pharmacy chain with the healthcare benefits company was announced in December 2017.

CVS Health says that preliminary results from a specials meeting of its stockholders saw more than 98% of the shares voted in favor of CVS Health acquisition of Aetna.

Larry Merlo – president and CEO of CVS Health, commenting on the CVS Health Aetna merger, said: “When this merger is complete, the combined company will be well-positioned to reshape the consumer health care experience, putting people at the center of health care delivery to ensure they have access to high-quality, more affordable care where they are, when they need it.”

CVS Pharmacy Store

A CVS Pharmacy Store. Photo courtesy of Smarty9108/Wikipedia.org.

According to CVS Health, the merger will help in filling an unmet need in the American health care system. It will also help in redefining access to high-quality care at reduced costs, whether in the home, in the community or through digital health care tools.

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Larry Merlo said that the merger will bring two complementary businesses with an expanded set of capabilities to develop a new community-based open health care model that is convenient to use and less costly for consumers.

Commenting further on the CVS Health Aetna merger, the CVS Health CEO said: “At the same time, our company will benefit from a stronger market position, with the potential to deliver increased value through the development of innovative new products and services and generate long-term growth opportunities that help produce stronger, more consistent results for shareholders as a uniquely integrated health care company.”

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Subject to mandatory regulatory approvals, the CVS Health Aetna merger is anticipated to be completed in the second half of this year.

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