The U.S. Justice Department agreed to allow CVS Health’s acquisition of health insurance giant Aetna once Aetna’s Medicare Part D prescription drug plan business for individuals is divested.
Aetna said it will sell its Medicare drug plans to WellCare Health Plans as part of a divestiture to help the insurer win Justice Department approval of its sale to CVS Health.
Rite Aid unveiled new governance, stripping CEO John Standley of the company’s chairmanship and adding new board members in the wake of a failed merger and mounting financial losses.