CVS CEO Karen Lynch Takes Charge of Aetna as Financial Goals Are Missed. Financial Shortfalls Prompt CVS Shift.
CVS CEO Karen Lynch announced she will take direct ownership of the company's Aetna insurance business after its financial performance missed expectations in the most recent quarter. Lynch said the Aetna business has faced challenges this year, along with the broader health insurance industry, as patients returned to hospitals for procedures postponed during the pandemic. CVS cut its full-year guidance for the third consecutive quarter due to Aetna's underperformance. Lynch sees opportunities to improve Aetna's financial results and said CVS is well-positioned for growth through 2025 despite current headwinds.
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00:00It's Benzinga, and here's what's on the block.
00:03CVS CEO Karen Lynch announced she will take direct ownership of the company's Aetna
00:07insurance business after its financial performance missed expectations in the most recent quarter.
00:12Lynch said the Aetna business has faced challenges this year, along with the broader health insurance
00:16industry, as patients return to hospitals for procedures postponed during the pandemic.
00:21CVS cut its full-year guidance for the third consecutive quarter due to underperformance
00:25at Aetna.
00:26Lynch sees opportunities to improve Aetna's financial results and said CVS is well-positioned
00:31for growth through 2025 despite current headwinds.
00:34For all things money, visit Benzinga.com.