Over the weekend, it was officially announced that CVS Health and Aetna are executing a definitive merger agreement under which CVS Health will acquire all outstanding shares of Aetna for a combination of cash and stock.
Under the terms of the merger agreement, which has been unanimously approved today by the boards of directors of each company, the transaction values Aetna at approximately $69 billion.
Including the assumption of Aetna’s debt, the total value of the transaction is $77 billion.
This transaction fills an unmet need in the current health care system and presents a unique opportunity to redefine access to high-quality care in lower cost, local settings whether in the community, at home, or through digital tools.
In the weekend press release touting the news, CVS Health President and Chief Executive Officer Larry J. Merlo said: “This combination brings together the expertise of two great companies to remake the consumer health care experience. With the analytics of Aetna and CVS Health’s human touch, we will create a health care platform built around individuals. We look forward to working with the talented people at Aetna to position the combined company as America’s front door to quality health care, integrating more closely the work of doctors, pharmacists, other health care professionals and health benefits companies to create a platform that is easier to use and less expensive for consumers.”