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.
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