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AEtna will sell his Medicare Part D prescription drug business to WellCare Health Plans, an initiative that should pave the way for federal approval of its $ 69 billion merger with CVS Health.
The Justice Department had raised competition concerns over Aetna 's Medicare drug trade, which was covering about 2.2 million people by the end of June, according to a file filed by the US Department of Justice. insurer. The price of the contract with WellCare, which should be concluded by the end of the year if the government signs the CVS transaction, has not been disclosed.
The sale is "an important step towards the completion" of the federal review of the Aetna-CVS transaction, said the insurer in the filing. The companies are still hoping to complete their merger by the end of 2018.
In addition to the antitrust review of the Department of Justice, Aetna and CVS Health are under pressure from a group of renowned doctors and some states. Both companies are ready for "seamless integration" in an effort to transform the mainstream health experience, said CVS CEO Larry Merlo previously.
Earlier this month, the federal government approved a merger between Cigna and Express Scripts, another transaction involving a health insurer and a pharmacy benefit intermediary.
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