WOONSOCKET – CVS Health Corp. does not plan to relocate Aetna Inc.’s headquarters out of Hartford, Conn., according to a CVS spokeswoman Friday.
Aetna had previously planned to relocate its headquarters to New York City, but this week New York City Mayor Bill de Blasio rescinded a $9.6 million tax incentive for the company’s relocation.
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The company’s spokeswoman said not only does CVS intend to keep Aetna in Hartford, the company views “Hartford as the future location of our center of excellence for the insurance business.”
CVS Health President and CEO Larry J. Merlo met with Hartford Mayor Luke Bronin Thursday and discussed the company’s plans.
While the company will maintain its headquarters in Rhode Island, the spokeswoman said it “is important to understand that while CVS Health will continue to be headquartered in Rhode Island, we also operate a number of large corporate hubs, or centers of excellence, in other states, including Arizona, Illinois and Texas.”
CVS reached an agreement to buy Aetna for $69 billion last year. The deal still needs to be approved by antitrust officials before it is finalized, however, the company expects to close the deal in the second half of 2018.
Chris Bergenheim is the PBN web editor.
