Posted by Michael Wonder on 05 Sep 2019
U.S. judge approves CVS purchase of insurer Aetna
5 September 2019 - A federal judge reviewing a Justice Department decision to allow U.S. pharmacy chain and benefits manager CVS Health Corp to merge with health insurer Aetna said on Wednesday that the agreement was in fact legal under antitrust law.
Judge Richard Leon of U.S. District Court for the District of Columbia had been examining a government plan announced in October to allow the merger on condition that Aetna sell its Medicare prescription drug plan business to WellCare Health Plans Inc (WCG.N). Both deals have already closed.
Leon had initially balked at approving the merger conditions and insisted on hearing from critics of the deal, but finally decided to grant the motion to approve the consent agreement.
