CVS Health is splitting into two publicly traded companies as the healthcare giant fights rising costs, retail competition, regulatory scrutiny and other pressures. The first company, to be named CVS Health, will host its insurance ...
CVS Health will split into two separate publicly traded companies. According to Semafor, this move reverses the 2018 deal that merged the 9,000-store retail pharmacy chain with insurance provider Aetna. Endpoints News reports that the first resulting company will be named CVS Health and will house the insurance business.
CVS Chief Executive David Joyner told The Wall Street Journal that the businesses are best served by splitting based on their current performance and position. Semafor reports the company is facing rising costs, retail competition, and increasing political and regulatory scrutiny in Washington.
Brief written by urgent.news from Endpoints News, Semafor — 2 reports on this story.
Machine-written — may contain errors; check the original before relying on it.
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