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Kekst & Co. advised CVS Health in its blockbuster $77B cash/stock/debt deal to acquire Aetna, the nation’s No. 3 insurer, a move destined to reshape the healthcare sector.
CVS CEO Larry Merlo promised the marriage will remake the “consumer healthcare experience” by combining Aetna’s analytics savvy with CVS’ “human touch.”
The Financial Times speculated the deal also is designed to fend off Amazon’s anticipated foray into the pharmacy sector as the online retailer has been acquiring wholesale state pharmacy licenses to pave the way for its market entry.
CVS is the nation’s No. 1 drug store chain with more than 9,700 outlets, of which about 1,100 of them are equipped with a “MinuteClinic” walk-in facility.
Aetna provides healthcare benefits to an estimated 44.6M customers.
Kekst’s managing directors Dawn Dover, Ruth Pachman, Daniel Yunger, and Tom Davies counseled CVS with associates Ashe Reardon, Charlotte Stone, Cathryn Vaulman, and analyst Maddie Sewani.
Publicis Groupe owns Kekst.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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