CVS Health will keep Aetna’s headquarters in Hartford, Connecticut, for at least 10 years following the completion of its $69 billion merger with Aetna, The Hartford Courant reported.
The deal, which is one of the largest in the healthcare space and brings together a major pharmacy benefit manager and retailer with a large health insurer, is currently under review by antitrust regulators.
The number of employees at Aetna and its subsidiaries in Connecticut will also remain near 5,300—the same figure as of Oct. 1—for at least four years after the transaction closes, the news outlet reported. CVS has further committed to honoring Aetna’s $50 million pledge to help the city of Hartford with the funding over five years, including offering aid with The Hartford Financial Services Group and The Travelers Cos. in 2017.
As part of the antitrust process, Aetna recently agreed to sell its Medicare Part D prescription drug plan to WellCare.
CVS will also honor the Aetna Foundation’s civic contributions at or above current levels. The pharmacy retailer previously announced its plans to keep Aetna in Hartford in January as one of its centers of excellence, which are also operated in Arizona, Illinois and Texas, the Courant reported.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."