HUGE DEAL

Justice Department Approves $69 Billion CVS Health-Aetna Merger

The pharmacy retail giant will now be able to provide basic medical care in stores.

Antitrust officials at the Justice Department have approved CVS Health’s decision to purchase Aetna, green-lighting a $69 billion deal that will allow the pharmacy chain to provide basic medical services at its stores. The Washington Post reports Wednesday that the merger has the potential to “transform” the healthcare industry, as the partnership with the insurance giant will allow CVS Health to turn some of its stores into clinics and provide their 5 million customers a day with patient monitoring and other low-level health services. The Justice Department’s only stipulation was that the merged companies sell off Aetna’s Medicare Part D prescription drug business, to avoid anti-monopoly complications.

CONSOLIDATE

CVS to Buy Insurance Giant Aetna for $69 Billion