CVS Health shareholders approve $69bn CVS Health Aetna merger

CVS Health Aetna merger : Stockholders of US-based retail pharmacy chain CVS Health have approved CVS Health acquisition of Aetna for $69 billion.

The merger of the retail pharmacy chain with the healthcare benefits company was announced in December 2017.

CVS Health says that preliminary results from a specials meeting of its stockholders saw more than 98% of the shares voted in favor of CVS Health acquisition of Aetna.

Larry Merlo – president and CEO of CVS Health, commenting on the CVS Health Aetna merger, said: “When this merger is complete, the combined company will be well-positioned to reshape the consumer health care experience, putting people at the center of health care delivery to ensure they have access to high-quality, more affordable care where they are, when they need it.”

A CVS Pharmacy Store. Photo courtesy of Smarty9108/Wikipedia.org.

According to CVS Health, the merger will help in filling an unmet need in the American health care system. It will also help in redefining access to high-quality care at reduced costs, whether in the home, in the community or through digital health care tools.

Larry Merlo said that the merger will bring two complementary businesses with an expanded set of capabilities to develop a new community-based open health care model that is convenient to use and less costly for consumers.

Commenting further on the CVS Health Aetna merger, the CVS Health CEO said: “At the same time, our company will benefit from a stronger market position, with the potential to deliver increased value through the development of innovative new products and services and generate long-term growth opportunities that help produce stronger, more consistent results for shareholders as a uniquely integrated health care company.”

Subject to mandatory regulatory approvals, the CVS Health Aetna merger is anticipated to be completed in the second half of this year.