WellCare to acquire Aetna's (AET) entire standalone Medicare Part D prescription drug plan business
The business to be divested had an aggregate of approximately 2.2 million members at June 30, 2018. The Divestiture does not affect Aetna's individual or group Medicare Advantage, Medicare Advantage Part D or Medicare Supplement products or plans. Aetna will provide administrative services to, and retain the financial results of, the divested business through 2019. The purchase price is not material to Aetna. Closing of the Divestiture is subject to the closing of CVS Health Corporation's (CVS) proposed acquisition of Aetna, regulatory approvals and other customary closing conditions.
- Aetna believes the Divestiture is a significant step toward completing the DOJ's review of the CVS Health Transaction. Aetna and CVS Health continue to engage in productive discussions with the DOJ. Aetna's expectations regarding the timing of the closing of the CVS Health Transaction remain unchanged.
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