Updates on Upcoming Mergers
Cigna has received antitrust approval for their acquisition of Express Scripts. The deal is predicted to fully close by the end of 2018. This is also good news for the CVS-Aetna merger, as that antitrust approval is still in the works.
Cigna’s acquisition of Express Scripts was first announced about six months ago in March 2018. They are still subject to approvals from the state and additional closing conditions.
The merger will combine Cigna’s techniques of managing health plans for businesses and the government with Express Scripts’ ways of facilitating pharmacy benefits.
Once the merger is complete, Express Scripts still plans to market themselves under their current branding standards.
Express Scripts’ president and CEO, Tim Wentworth, stated, “Together, we believe we will be able to do even more to reduce health care costs, expand choice, and improve patient outcomes.”
More to Come
It’s possible the Justice Department’s review of the CVS-Aetna merger may be completed by the end of the month, but due to some competitive concerns, may take longer.
Antitrust experts have referred to the current deals as “vertical combinations” and are predicted to present fewer issues than mergers that have failed in the past.
Spokespeople from both Cigna and Aetna have indicated that the companies were eager to grow through new partnerships and take part in the ever-growing and ever-changing health care system.