CVS to expand health services with Aetna acquisition
by Lynde Langdon
Posted 12/04/17, 11:20 am
CVS, the second-largest drugstore chain in the United States, is buying Aetna, the third-largest health insurer, to boost its healthcare services. The $69 billion deal was announced Sunday evening. Shoppers will likely see more clinics and services available in CVS stores as a result. The company already has about 1,100 clinics in its nearly 10,000 locations. Those clinics have expanded their services in recent years to include blood draws and monitoring of chronic conditions such as high blood pressure and diabetes. “I think over time you’re going to see less of that front-store retail and more healthcare services in their stores,” said Jeff Jonas, a portfolio manager for Gabelli Funds.
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