Insurance Department OKs Aetna, CVS Merger

John Silva
October 17, 2018 - 5:14 pm
Aetna

WTIC FILE PHOTO

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(Hartford, Conn./WTIC) - The state Insurance Department has approved the merger of CVS Health and Aetna.

The word came down earlier Wednesday.

In a statement, Governor Dannel Malloy lauded the $69 billion deal, saying it assures Aetna's presence in the Capital City for at least the next decade, as CVS Health had indicated earlier this month.

CVS made the initial announcement it was purchasing Aetna last December.

Part of the deal has Aetna's employment levels staying at about 5,300 for the next four years.

Malloy says the state is committed to working with the leadership team of CVS Health to spur future growth.

Aetna's roots in Hartford date back to 1853.