CVS Health is reportedly considering a major restructuring that would separate its retail pharmacy chain from its insurance business. [7, 8, 9] The move would reverse its strategy of building a vertically integrated healthcare company, anchored by its 2018 acquisition of insurer Aetna. [8, 13]
According to a Financial Times report citing people familiar with the matter, discussions could lead to the retail pharmacy division becoming a separate company. [8] Aetna and pharmacy benefit manager Caremark would likely remain together. [8]
The strategic review follows a period of financial underperformance and pressure from rising medical costs in the insurance business. [1, 5, 6]