CVS Health Mergers and Acquisitions Summary

Healthcare ServicesCompany

CVS Health has acquired 17 companies, including 7 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 4 assets.

CVS Health’s largest acquisition to date was in 2017, when it acquired Aetna for $77.0B. It’s largest disclosed sale occurred in 2017, when it sold RXC Acquisition to McKesson for $735M. CVS Health has acquired in 15 different US states. The Company’s most targeted sectors include retail (42%) and healthcare services (30%).

Join Mergr and gain access to CVS Health’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the healthcare services sector.

M&A Summary

  • M&A Total Activity21
    • M&A Buy Activity17
    • M&A Sell Activity4
  • Total Sectors Invested 5
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 13
  • M&A Advisors 11

CVS Health

CVS Health Corp.

One CVS Drive,
Woonsocket, Rhode Island 02895
United States,
(401) 765-1500
www.cvshealth.com

CVS Health operates retail pharmacies, walk-in medical clinics, and is a pharmacy benefits manager. The Company enables people, businesses, and communities to manage health in a variety of ways. CVS Health advises patients on medications at CVS/pharmacy locations, helps clients control costs at CVS/caremark, and delivers care through CVS/specialty and CVS/minuteclinic. CVS Health was originally established in 1963 and is based in Woonsocket, Rhode Island.


M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (1.0/yr) # 12 3 1 - - 1 17
vol $122.7B $8.0B $130.7B
Sell (0.2/yr) # 3 - - 1 - - 4
vol $1.5B $1.5B
  21

Most Recent M&A

Company Date Value Type
Signify Health, Inc. 2022-09-05 8.0B USD Add-on Acquisition
Dallas, Texas · www.signifyhealth.com
Coventry Workers'​ Comp Services 2020-03-02 - Divestiture
Downers Grove, Illinois · www.coventrywcs.com
IlliniCare Health Plan, Inc. - Medicaid and Medicare Advantage Business 2019-12-02 - Divestiture
Westmont, Illinois
Altius Health Plan, Inc. 2018-08-09 - Divestiture
South Jordan, Utah · www.altius.coventryhealthcare.com
Apothecary By Design 2018-01-05 - Add-on Acquisition
Portland, Maine · www.abdrx.com
Billnat Corp. 2018-01-01 - Add-on Acquisition
Livonia, Michigan
Aetna, Inc. 2017-12-03 77.0B USD Add-on Acquisition
Hartford, Connecticut · www.aetna.com
Geneva Woods Pharmacy, Inc. 2017-12-01 - Add-on Acquisition
Anchorage, Arkansas · www.genevawoods.com
RXC Acquisition Co. 2017-11-06 735M USD Divestiture
Louisville, Kentucky · www.rxcrossroads.com
Omnicare, Inc. 2015-08-18 12.9B USD Add-on Acquisition
Cincinnati, Ohio · www.omnicare.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Aetna, Inc. 2017-12-03 PayFlex Systems USA, Inc. 2022-04-05 3
Hartford, Connecticut · www.aetna.com Omaha, Nebraska · www.payflex.com
CVS Pharmacy, Inc.    - Schnuck Markets, Inc. - Retail & Specialty Pharmacy Businesses 2020-03-10 2
Woonsocket, Rhode Island · www.cvs.com St. Louis, Missouri
CVS Pharmacy, Inc.    - Ritzman Pharmacies - 20 retail pharmacies 2019-01-07 1
Woonsocket, Rhode Island · www.cvs.com Rittman, Ohio
Aetna, Inc. 2017-12-03 Aetna, Inc. - Medicare Part D Business 2018-09-27 2
Hartford, Connecticut · www.aetna.com Hartford, Connecticut
Aetna, Inc. 2017-12-03 Medicity, Inc. 2018-07-11 1
Hartford, Connecticut · www.aetna.com Salt Lake City, Utah · www.medicity.com

M&A by Sector

Sector Buy # Value Sell # Value
Retail 7 (41%) 10.6B (8%) 1 (25%) 550M (36%)
Healthcare Services 5 (29%) 35.2B (27%) 2 (50%) 985M (64%)
Insurance 3 (18%) 77.0B (59%) 1 (25%) -
Information Technology 1 (6%) 8.0B (6%) - -
Life Science 1 (6%) - - -
Total 17 $130.7B 4 $1.5B

By Geo

State/Country Buy Value Sell Value
United States 17 130.7B 4 1.5B
  Florida 2 4.5B - -
  Michigan 2 1.5B - -
  Illinois 1 - 1 -
  Maine 1 - - -
  Connecticut 1 77.0B - -
  Colorado 1 - - -
  California 1 2.7B - -
  Arkansas 1 - - -
  Utah 1 - - -
  Texas 1 8.0B - -
  Tennessee 1 21.0B - -
  Rhode Island 1 - - -
  Ohio 1 12.9B - -
  New York 1 1.3B - -
  Minnesota 1 1.9B - -
  Kentucky - - 1 735M
  Massachusetts - - 1 550M
  Maryland - - 1 250M
Total 17 $130.7B 4 $1.5B

Top M&A Advisors

Financial Deals
Barclays Investment Bank
3
Evercore Group LLC
2
Bank of America Merrill Lynch (BofA Securities)
2
Legal Deals
Dechert LLP
5
Fried Frank Harris Shriver & Jacobson LLP
3
McDermott Will & Emery LLP
2

Deal Values

buy # Total
> $1B 9 $130.7B
TOTAL $130.7B
Largest Aetna, Inc.
$77.0B (2017-12-03)
sell # Total
$100M to $1B 3 $1.5B
TOTAL $1.5B
Largest RXC Acquisition Co.
$735M (2017-11-06)

M&A Connections

Deals
Acquired from
Investor(s)
12%
2 (12%)
Strategic(s)
35%
6 (35%)
Divested to
Strategic(s)
100%
4 (100%)

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