The dust settles, CVS announces the completion of a $70 billion acquisition of Aetna
According to foreign media, US drug retail giant CVS Health (hereinafter referred to as CVS) announced on November 28th that it had completed the final approval process for the acquisition of health insurance company Aetna. So far, this total of 70 billion US dollars, the largest acquisition in the history of the US pharmaceutical retail industry, after a year, finally settled.
This transaction is not only the most eye-catching and controversial M&A transaction this year, but also the focus of the arterial network. The following are some of the details of our merger and acquisition events:
1. Under the terms and conditions agreement, CVS will acquire Aetna's outstanding tradable shares at a price of $145 per share in cash and 0.8378 shares of CVS shares, for a total of $212 per share, for a total value of $70 billion. CVS will not issue any part of the stock in the transaction. CVS will fund the transaction with cash and debt financing, including $40 billion in senior notes and two $5 billion in term loans.
2. Upon completion of the acquisition, Aetna will operate as a separate unit within CVS Health and Aetna's brand name will continue to be used for reference health insurance products. Aetna will maintain its existing management team.
3. As a driving force for the acquisition, CVS will follow its October 10 agreement with the US Department of Justice (DOJ) to allow Aetna to sell its Medicare Part D prescription drug program to the WellCare Health Program in Tampa, Florida, USA. The transaction will be completed in a few working days. Under the agreement, WellCare will take over the business of 2.2 million audiences on December 31 this year.
4. The combined company, referred to as CVS Health, is listed on the New York Stock Exchange under the symbol "CVS." It has begun to build a new medical model, and plans to launch a project for chronic disease management in the near future through CVS's MinuteClinics. Other new services the company plans to launch include preventive health screening for communities at higher risk for certain health issues, and related programs aimed at improving drug adherence and reducing the cost of medical care in unnecessary emergency room visits.
5. According to Clo President and CEO Merlo, the combined CVS Health will focus on the community, fully integrating Aetna's medical information and analytics strengths and CVS pharmacy data, enabling consumers to meet the health they need, when and where they need it. Nursing, simplifying complex systems. They expect patients to benefit from earlier interventions and better networked care to improve health and reduce health care costs.
This is basically the same as last year when CVS and Aetna announced this cooperation. But the deal has been controversial since its launch last year, and some industry insiders, including the American Medical Association (AMA), insist that the deal will harm consumers' interests. However, some people think that the merger of upstream and downstream industries is an inevitable trend after the industry has developed to a certain stage.
Although the dust has settled in the acquisition process that lasted for one year, it is only the beginning from the perspective of industry influence. The arterial network will continue to pay attention to the combined "super company."
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