CVS Health Will Spend Up to $25 Billion on Provider M&A

At the firm’s annual investor conference, CVS Health Corp. executives promoted closer vertical integration and promised to move even further into care provision. CVS, which acquired Aetna in 2018, emphasized virtual care and its retail HealthHUB clinics in recent months, and it has indicated it has a strong interest in acquiring providers, particularly in primary care.

Other large carriers have made similar moves in recent years. UnitedHealth Group owns both the U.S.’s largest health insurer, UnitedHealthcare, and a growing provider arm, OptumCare. Humana Inc. has moved to acquire in-home and primary care providers. Meanwhile, CVS’s largest retail pharmacy competitor, Walgreens Boots Alliance Inc., is purchasing clinics with the goal of becoming a major primary and urgent care provider. According to CVS Health CEO Karen Lynch, the firm’s position astride all three businesses — retail, care delivery and benefits management — is why it will perform better than its rivals.

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Peter Johnson

Peter has been a reporter for nearly a decade. Before joining AIS Health, Peter covered a wide variety of topics in his hometown of Seattle, where he continues to live. Peter’s work has appeared in publications including The Atlantic and The Stranger. Peter attended Colby College.

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