CVS Says No Plan To Relocate Aetna's Operations From Hartford


(RTTNews.com) - CVS Health Corp. ( CVS ) said it decided to keep Aetna Inc. ( AET ) in Hartford, Conn., reversing the insurer's plan announced last year to move its corporate headquarters to New York City.

"We have no plans to relocate Aetna's operations from Hartford," CVS spokesman David Palombi said, adding that the company had met with Connecticut Gov. Dannel Malloy and Hartford Mayor Luke Bronin on Thursday.

The planned move was put on hold after CVS's December announcement that it would buy Aetna for $69 billion. Aetna said at the time the merger was announced that all of its locations would be evaluated as part of its integration with CVS.

Once the merger is complete, Hartford will be considered the "corporate hub" for the insurance business, rather than Aetna's headquarters, Mr. Palombi said. CVS will maintain its corporate headquarters in Rhode Island.

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