NORWICH, Conn. (WTNH) – The second largest US drug store chain is looking to take over the third largest health insurance company.
CVS sees a merger with Aetna as a prescription for success.
Related Content: CVS buys Aetna
“This transaction fills an unmet need in the current health care system and presents a unique opportunity to redefine access to high-quality care in lower cost, local settings whether in the community, at home, or through digital tools,” CVS said in a press release.
“I think they’re going to expand their operations. I think they’ll have nurses,” said David Cadden, a Professor Emeritus at Quinnipiac University‘s Department of Entrepreneurship and Strategy
CVS says there are benefits for consumers such as:
- Uniquely Integrated, Community-Based Health Care Experience
- More Integrated Data and Analytics
- Opportunity to Better Fight Chronic Disease
“I had good service here with the minute clinic. They’re very good, they’re helpful, they’re right on time,” said Jake Babineau of Norwich.
“CVS is a pretty prevalent as far as finding it anywhere you go around in this area so it would be nice to have a multi-location facility like that,” said Dianne Brown of Norwich.
Cadden expects an emphasis on preventative care and walk-in clinics over hospitals to save Aetna money. As for jobs:
“There’s not that much overlap,” said Cadden. “I think there may be some issues with regard to IT. But I wouldn’t anticipate that their people at Aetna should be worried significantly that there will be massive job cuts.”
The $69 billion deal still needs approval of antitrust evaluators.
“It’s a little bit strange, but why not,” said Brown.