The US Justice Department has approved the proposed $69 billion deal between CVS Health and Aetna conditioned on Aetna’s divesting its Medicare plans to WellCare Health Plans.
“Today’s settlement resolves competition concerns posed by this transaction and preserves competition in the sale of Medicare Part D prescription drug plans for individuals,” said Makan Delrahim, Assistant Attorney General of the Antitrust Division. “The divestitures required here allow for the creation of an integrated pharmacy and health benefits company that has the potential to generate benefits by improving the quality and lowering the costs of the healthcare services that American consumers can obtain.”
The deal promises to be one of the biggest in the recent consolidation trend among providers and insurers. You can check out the full release from the DOJ here.