CVS to split into two companies, in major breakup of its $117 billion healthcare empire

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CVS Health said Wednesday it is splitting into two companies, marking one of the largest shakeups in the healthcare industry. It’s a major reversal of the mergers that brought together the nation’s largest drugstore retailer along with health insurance giant Aetna and pharmacy benefit manager Caremark.

The breakup unwinds a strategy that began in 2007, when CVS merged with Caremark, which handles prescription benefits available to people with health insurance. In 2018, CVS acquired Aetna for $69 billion.

“We’re basically taking what I believe is one great company and making it two,” said CEO David Joyner in a statement.

Shares of CVS Health, which had been up about 15% so far this year, fell by 2% in premarket trading after initially ticking up. Shareholders will get shares of both companies in a tax-free transaction expected to close in early 2028, according to the company.

CVS also reported higher third-quarter earnings and revenue Wednesday, due primarily to better results from its Health Care Benefits segment. The company also raised its earnings guidance for the rest of this year.

CVS has 9,000 locations across the United States, 800 of which operate “MinuteClinics” staffed by nurse practitioners and physician assistants.

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CVS Health周三宣布将拆分为两家公司，这标志着医疗保健行业规模最大的重组之一。这与此前将这家全美最大的连锁药店零售商与健康保险巨头安泰保险（Aetna）和药品福利管理公司Caremark合并的局面截然相反。

此次分拆标志着一项始于2007年的战略宣告结束。当时，CVS与Caremark合并，后者负责为拥有医疗保险的人提供处方药福利。2018年，CVS以690亿美元收购了安泰保险（Aetna）。

“我们基本上是将我认为是一家伟大的公司拆分成两家，”首席执行官大卫·乔伊纳在一份声明中表示。

CVS Health的股价今年迄今已上涨约15%，但在盘前交易中先小幅上涨后下跌2%。该公司表示，股东将通过一项免税交易获得两家公司的股份，该交易预计将于2028年初完成。

CVS周三公布的第三季度财报显示，其盈利和营收均有所增长，主要得益于医疗保健福利部门业绩的改善。该公司同时上调了今年剩余时间的盈利预期。

CVS 在美国拥有 9,000 家门店，其中 800 家设有“MinuteClinic”，配备有执业护士和医师助理。