CVS Health reportedly plans breakup, splitting pharmacies from insurance arm
The gist
CVS Health is reportedly planning to split its $117bn business, separating 9,000 retail pharmacies from Aetna and Caremark.
The reversal of its acquisition strategy would reshape a US healthcare and drugstore giant.
How it unfolded
- Sep 2024Activist hedge fund Glenview Capital took a 1 per cent stake in CVS, prompting the removal of Karen Lynch as chief executive and the addition of four directors to the board.
- Oct 2024David Joyner started as chief executive.
- Dec 2024CVS stock sank to a 10-year low.