CVS Ready to Buy Insurer Aetna

24/7 News Source — Various media reports indicate drug store giant CVS is close to purchasing Aetna insurance.  

Aetna's board is reportedly meeting today to vote on a $69 billion deal to be acquired by CVS.  

The drug store and insurance merger would be an unprecedented marriage of retail and healthcare. 

People familiar with the deal say it could possibly rein in the high cost of healthcare. It might also transform standalone pharmacy storefronts into community medical hubs for primary care and basic medical procedures. 

CVS shares were down two-percent Friday, as were shares of Aetna.  

According to Reuters, CVS plans to buy Aetna mostly with cash, but will use its own stock to pay around 30-percent of the purchase price. 

CVS agreed to plunk down $207 a share for Aetna. 


Photo: Getty Images

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