What an interesting deal.
CVS is buying health insurance giant Aetna, the companies announced Sunday.
If approved, the $69 billion acquisition — $77 billion including debt — would drastically remap the health care industry. CVS Health (CVS)is a massive drugstore chain and prescription drug insurer, while Aetna (AET) is one of the nation’s largest health insurers.
It would also go down as the largest health insurance deal in history, far exceeding Express Scripts (ESRX)’ $29 billion acquisition of Medco in 2012, the last record-holder.
If the deal goes through, you would have a health insurer with direct access to thousands of store locations from which they could deliver routine services to control costs.