CVS agrees to buy Aetna in $69 billion deal that could shake up health-care industry

[Eugene]

Source: Washington Post

By Carolyn Y. Johnson December 3 at 1:41 PM

Pharmacy giant CVS Health has agreed to buy Aetna in a $69 billion blockbuster acquisition that could rein in health care costs and transform its 9,700 pharmacy storefronts into community medical hubs for primary care and basic procedures, people familiar with the deal said Sunday.

The pharmacy chain agreed to buy Aetna for about $207 per share or $69 billion.

If approved by regulators, the mega-merger would create a giant health care company, allowing CVS to provide a broad range of health services to Aetna’s 22 million medical members at its nationwide network of pharmacies and walk-in clinics, and further decrease the drug store titan's reliance on the retail sales that have faced increasing competition.

And the deal is likely to set off even more mergers in the health-care industry, which has been undergoing consolidation and faces potential new competition from Amazon.

-snip-


Read more: https://www.washingtonpost.com/news/wonk/wp/2017/12/03/cvs-agrees-to-buy-aetna-in-69-billion-deal-that-could-shake-up-health-care-industry/

[BumRushDaShow]

1. About to post

That's like a reverse type of thing - pharmacy buying an insurer.

[hibbing]

2. Gotta love corporate media "could rein in health care costs"

Yeah, sure it will, I'm totally optimistic that health care costs will be reduced.


Peace

[Journeyman]

3. Well, if not from this, then certainly when Amazon enters the medical procedures field . . .

It's going to be incredibly cheaper to get, say, a flu shot from Amazon when you can just order it online and have it administered the next day by a friendly van driver who's been practicing giving injections into an orange for most of the morning.

[Oneironaut]

12. I heard you need your appendix out! (Opens Google)

[HAB911]

21. +++++++++++

[BumRushDaShow]

4. What got me too

was that the WaPo article mentioned Amazon had indicated interest in getting into the prescription drug sales business, something I totally missed in the news that happened at the end of October! That is what apparently triggered this announcement.

[LompocDem]

18. Mergers like this never...

...are beneficial to the people who aren't shareholders, but then, I see your stealth sarcasm emoji.

[magicarpet]

5. Yes and lower Corp taxes from 35% to 20%....

.... and their employees will be immediately rewarded with an annual pay raise of between $4,000 and $9,000 per year.

Pink tulips will come bursting through the blacktop streets for little girls to pick, and fuzzy little bunnies, kitties, and unicorns will come climbing from the sewers and manhole covers for the children to have fun and play with.

-------------------------

As stated above,

Gotta love corporate media "could rein in health care costs"

Yes. - I'll take two unicorns that
poop purple and gold glitter, five little lime green bunnies, and four Fuzzy-Wuzzy little kittens.

[SergeStorms]

9. You forgot.....

the thingy after.... "and their employees will be immediately rewarded with an annual pay raise of between $4,000 and $9,000 per year."

You know the top brass will get H-U-G-E increases, but the hourly employees? No way.

[tazkcmo]

10. Now, now

Don't be ungrateful. Your Corporate Overlords are delicate creatures and struggling mightily to keep their heads afloat upon their silk pillows. Things are so bad, they've had to take holiday decorating ideas from Ivanka Trump, a mere government servant!

This time of year, we are usually more thoughtful of others and selfish. I suggest you do the same.













sarcasm

[ProfessorGAC]

20. I Think You're Wrong!

You are too cynical about that 4000 - 4900!
The problem simply is they put the decimal in the wrong spot!!! They meant 40 to 49 dollars!
Now, we don't need any unicorns or green bunnies, because now it's all possible!
Oh, yeah

[burrowowl]

6. The U$ of A is totally corrupt

[PSPS]

7. LOL. "If approved by regulators...."

[SergeStorms]

8. Ahhhhh SHIT!

I just switched over my supplemental Medicare insurance from Blue Cross to Aetna. Methinks I'm about to get bent over a table and reamed.

[LompocDem]

19. I'm 6 months from...

...medicare eligibility. My RW coworkers who are currently on medicare have no clue (willfully so) what negative changes their party will impose on their coverage. I suspect that big health will step in with minimal, supplemental and augmented supplemental options that they will need to purchase in order to maintain their current Medicare level of care/co pays.

Then there is the fact that the pool of medicare accepted primary health care providers has shrunk and will continue to do so forcing those who depend on medicare to travel farther,and pay more for reduced quality of healthcare.

There is a fix. A progressive house, senate and Potus is the only way (unless the RW nutz experience a sudden realization that their retirement plans that rely on medicare and current tax deductions will be in the shitter).

[SergeStorms]

31. You are correct.

The things this GOP organized crime family can do before we can get a Democratic controlled Congress really bothers me though. It's an eternity between now and next November.

[Mr.Bill]

11. CVS is the Walmart of pharmacies.

They moved into our small town and pretty much put all the others out of business. Kmart was the latest to close their pharmacy. Safeway is the only other one left standing. Picking up a prescription at CVS usually means waiting in line for 20 minutes or more.

Maybe not so coincidentally, CVS has the lowest liquor prices in town, too.

[bathroommonkey76]

13. My mom got a notice last week that said CVS will no longer carry her

Medicare prescriptions - Not sure if this merger has anything to with that or not.

[Mr.Bill]

27. Can you link me to more info about this? n/t

[TexasBushwhacker]

28. My bad - deleting

It looks like all the websites mentioning this are anti-vax. However, the FDA insert says that even the high dose vaccine may not work in immuno-compromised people. Seniors are often immuno-compromised. But dies CVS and other pharmacies promote the high dose vaccine because it's better, or because they are paid double? I'm going with the regular dose.

[Mr.Bill]

29. I volunteer at a hospital and they recommend flu shots for all employees and volunteers.

They also recommend the higher dose for those over 65. Since they are not charging us for the shots, there is no financial incentive for the higher dose to be given. It is purely a medical recommendation.

Other local pharmacies also make the same recommendation. I'm in a small town and the hospital only has a few hundred employees and I have not heard of any adverse effects from the shots in years, except sometimes people still get the flu even though they had the shot. They make it very clear that the shots are not 100% effective.

[benld74]

14. Aetna just bought out Coventry 2 years ago

[Initech]

15. Remember when Microsoft was tried for monopolistic practices? CVS: Hold my beer...

These mega mergers are fucking insane!

[harun]

30. Corporations run the gov't now. Now it is mo Monopolies mo betta.

[mockmonkey]

16. I have Aetna through work

We were told that next year we have to get our prescriptions filled at CVS or get the 90 day delivery from Aetna.

No other choice.

[LompocDem]

17. Same here

I wonder how this acquisition will change our prescription options. My group plan that includes more than 160k employees (minus those who opt out) had a choice of script providers 5 years ago. Then they forced us to CVS and 90 day scripts with fewer generic options and higher name brand co pays. One would think that the merge of the provider and supplier of life extending drugs will make them more affordable.

I have lived long enough to see the gaming of big health insurance and big pharma over the years to know that reduction in costs and improvement in care options due to merges will never happen in my life time.

Time for a change and just maybe the current political climate and the change that is sure to come will make universal health care an option that even the rubes who think the free market healthcare system is crap once the shitgibbon and his congressional brown nosers screw it up and start hurting their hip pockets.

Then there's the 30% who are total idiots.

[Javaman]

22. I pledge alliengence to the corporation of the united states of america

and to the boardroom for which it stands

one nation under a ceo divided

for servitude and work release programs for all.

[Rene]

23. this cannot be allowed to happen.....creating a monopoly

[Kimchijeon]

24. Great, another foot of CVS coupons for Pharma/Clinic shit and "Extra bucks" lol

Don't get me wrong I actually take huge advantage of CVS's coupon system but fuck this.

[Bengus81]

25. ROFLMAO!!! Righttttttt it will................

CVS just down the street and the parking lot is 99% empty most of the time. Where would they get the cash for this--borrow billions and then RAPE former Aetna policy holders to pay it off??

This smells ten miles away...........