Nearly one year after agreeing to merge in a bid to reinvent healthcare for Americans, CVS Health and Aetna sealed the deal on Wednesday, bringing together one of the nation’s largest pharmacy chains and one of the largest health insurers.
CVS Health President and CEO Larry Merlo: “Today marks the start of a new day in health care and a transformative moment for our company and our industry. By delivering the combined capabilities of our two leading organizations, we will transform the consumer health experience and build healthier communities through a new innovative health care model that is local, easier to use, less expensive and puts consumers at the center of their care.”
Despite warnings from provider groups, patient advocates, economists, and antitrust experts of the combination harming competition and patients, the $69 billion merger scored approval from U.S. Justice Department antitrust enforcers and insurance regulators in 28 states. On Monday and surprisingly for me those regulators who always appear to be going after someone of some business, New York regulators became the last to sign off on the deal.
This is another example of the healthcare enterprise, big business, etc. getting ready for government sponsored single payer, Medicare-for-all, public option, etc. (whatever you wish to call it) having the power to negotiate pricing/costs of delivered healthcare if legislators actually decide to have such power. Otherwise, it becomes a simple cost shift to the government which will result in higher taxes and uncontrolled costs for healthcare which can be had for far less cost in our equivalent European neighbors countries. Other bloggers and many readers here and other places are used to calling out for these popular memes without definition.