CVS weighs spinning off 9,000-store pharmacy chain from Aetna
The gist
CVS Health is discussing spinning off its 9,000-store retail pharmacy unit into a separate listed company.
The split would unwind its $78bn Aetna deal and separate drugs from insurance.
How it unfolded
- 2018CVS's $78bn acquisition of Aetna created a group combining an insurer, a pharmacy benefit manager and a nationwide drugstore chain.
- 2023Under then-CEO Karen Lynch, CVS struck an $8bn deal for care provider Signify Health and a $10.6bn takeover of primary care clinic Oak Street Health.
- Sep 2024Activist hedge fund Glenview Capital took a 1% stake, a move that preceded Lynch's departure and board changes.