CVS agrees to buy Aetna - KWWL - Eastern Iowa Breaking News, Weather, Closings

CVS agrees to buy Aetna

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(AP) -

Update: CVS is confirming that it's buying Aetna for $69 billion in a deal that will help the drugstore chain reach deeper into customer health care and protect a key client.

CVS Health Corp. released a statement Sunday saying it will pay cash and stock for Aetna Inc. 

The mammoth acquisition pairs a company that runs more than 9,700 drugstores and 1,100 walk-in clinics with an insurer that covers about 22 million people.

The deal could generate a new stream of customers to CVS stores. Many of those stores now offer a growing menu of medical services in addition to the usual fare of prescriptions and cold and cough supplies.

CVS wants to be more of a one-stop-shop for health care.

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CVS announces it has agreed to buy Aetna in a $68 billion deal that combines a drugstore chain with a health insurer.

More details are still to come.

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