CVS Health Corporation (CVS)

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CVS Health Announces Successful First Year of Aetna Integration at One Year Anniversary
By: PR Newswire | December 5, 2019

WOONSOCKET, R.I., Dec. 5, 2019 /PRNewswire/ -- CVS Health Corporation (NYSE:CVS) today announced it has successfully completed the first year of combined operations following the acquisition of Aetna in late 2018. The combined company has met or exceeded its first-year integration goals while introducing new, consumer-focused offerings as a result of its unmatched capabilities. CVS Health remains on track to meet its most recent 2019 net synergy guidance and remains confident in its net synergy targets for 2020 and 2021.

"A full year of integration is a significant milestone in our long-term strategy to create the world's most consumer-centric health company," said Larry J. Merlo, President and CEO, CVS Health. "We're already seeing the benefits of our differentiated business model, which is delivering value to customers and patients across the country. I'm incredibly proud of the progress we've made, and I'm confident we will continue to raise the bar on what's possible in 2020."

CVS Health has been focused on four enterprise priorities to accelerate growth, as outlined at its Investor Day in June:

• Growing and differentiating its businesses;
• Delivering transformational products and services;
• Creating a consumer-centric technology infrastructure; and
• Modernizing enterprise functions and capabilities.

Merlo continued, "By executing on our strategy we've been able to develop and implement unique offerings that are resonating with consumers. Our HealthHUB® model, which launched in Houston this year and will expand to a projected 1,500 locations by the end of 2021, has already shown an ability to improve patient outcomes and enhance customer satisfaction. We've also invested in a suite of in-home and digital offerings to better meet consumers where they are, such as our home hemodialysis device which is the subject of a clinical trial to support a future request for FDA clearance, and new virtual health services available through the CVS Pharmacy app. What's good for consumer health will be good for business, and the early results back that up.

"The evolution of health care will accelerate in 2020, and we're extremely well-positioned to lead. The private sector, and CVS Health in particular, will be the engine that drives health care innovation next year and beyond."

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