Aetna Inc. will maintain its identity for at least five years after CVS Health Corp. acquired it, according to a statement before federal regulators.
The merger agreement presented Tuesday with the US Securities and Exchange Commission plunges into the details of the successful $ 69 billion deal. It calls for keeping Aetna as the main brand for the insurance business of CVS and its subsidiaries for five years.
And it requires that CVS preserve Aetna Foundation Inc., the charitable and philanthropic arm of Aetna for three years, "in a manner consistent in all material respects" with Aetna's charitable mission and name.
The two companies set a deadline of December 3, 201
In some circumstances, the "end date" may be extended by any of the companies until March 3, 2019.
If the agreement is canceled, CVS or Aetna may be required to pay a fee. termination of $ 2,100 million to the other.
The two companies announced the $ 69 billion deal of success on Sunday. CVS said it is looking to expand to manage the entire range of patients' health, not just the costs of the drugs.
The two companies said that personalized health care can be provided by connecting the Aetna provider network with increased consumer access through CVS. It includes more than 9,700 CVS pharmacy sites and 1,100 walk-ins from MinuteClinic.