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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.
Kekst CNC handles Getty Images as it begins a prepackaged Chapter 11 reorganization and receives a committment from Koch Equity Development to invest $533M in the visual content company.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
