Medical Merger Approved
The Department of Justice has approved a $69 billion merger between CVS Health and Aetna.
Their merger comes as a wave of consolidation sweeps through the healthcare market, leaving many experts concerned that patients will end up with less control over their medical care and prescriptions.
The deal is the largest health insurance merger in history, exceeding Express Script’s $29 billion acquisition of Medco by $40 billion.
“The combination of CVS and Aetna creates an enormous market force that we haven’t seen before. This type of consolidation in a market already dominated by a few, powerful players, presents the very real possibility of reduced competition that harms consumer choice and quality.” — George Slover, senior policy counsel for Consumers Union
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