A PYMNTS Company

US: CVS merger with Aetna orders hearing

By  |  March 14, 2019

A US judge who has been asked to sign off on a government agreement that allowed CVS Health to buy health insurer Aetna ordered a hearing for April 5 on the matter.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Judge Richard Leon of the US District Court for the District of Columbia issued the order on Thursday, March 14, saying that he wanted the hearing to discuss which witnesses—if any—should testify before he decides whether to approve the government’s deal with the companies.

    The Justice Department approved the merger of CVS, a US pharmacy chain and benefits manager, and Aetna in October on condition that Aetna sell its Medicare prescription drug plan business to WellCare Health Plans.

    Judges usually approve merger agreements that the government strikes with companies with little fanfare, but Leon has balked. In December, he said he was “less convinced” than the government that the asset sale to WellCare would resolve antitrust concerns.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.