US retail pharmacy and healthcare company CVS Health has acquired insurer Aetna for a total value of $77 billion, including the assumption of Aetna's debt.
CVS Health will acquire all outstanding shares of Aetna for a combination of cash and stock. Under the terms of the definitive merger agreement, Aetna shareholders will receive $145.00 per share in cash and 0.8378 CVS Health shares for each Aetna share.
The transaction values Aetna at approximately $69 billion. Including the assumption of Aetna's debt, the total value of the transaction is $77 billion.
The 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.
"This combination brings together the expertise of two great companies to remake the consumer health care experience," said Larry Merlo, CVS Health president and chief executive officer.
"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."
Mark Bertolini, Aetna chairman and CEO, said: "This is the next step in our journey, positioning the combined company to dramatically further empower consumers. Together with CVS Health, we will better understand our members' health goals, guide them through the health care system and help them achieve their best health.
"[...] Our combined company will be more competitive in the marketplace and accelerate progress toward achieving this mission," Bertolini added.
CVS Health, Aetna, Acquisition, M&A, Health insurance, North America