CVS Buying Aetna Insurance For $14 Billion
SAN FRANCISCO (KPIX) -- Drugstore giant CVS is joining forces with one of the nation's largest health insurers.
The Rhode Island-based company announced it's buying Aetna for $69 billion.
CVS says by joining forces with Aetna they envision their locations becoming a community-based medical center.
The pharmacy plans to provide a space for wellness, clinical and pharmacy services as well as vision, hearing, nutrition and medical equipment.
"A company like CVS has 10,000 brick and mortar locations," said Zack Cooper of Yale School of Public Health. "So if you're an Aetna customer, you can access the health care system through a CVS which a lot of see around the corner from where we live day to day."
The deal still needs approval from antitrust regulators who have been skeptical of similar health care mergers.
