Aetna Chairman and CEO Mark Bertolini says the Hartford health insurer will continue with its $37 billion Humana merger despite federal antitrust overseers efforts to block it.
In a companywide email Thursday, Bertolini said the pair will continue their “integration planning.” Bertolini said the two health insurers will continue working to close the deal for a successful combination of the companies.
Bertolini also said the insurer looks forward to sharing the facts in court. “We will continue to press forward,” he wrote.
Aetna has an ally of sorts in CT Attorney General George Jepsen. He said Thursday the state is not opposing the Aetna merger because he did not anticipate anticompetitive effects in Connecticut, where Humana isn’t an Aetna competitor.
The U.S. Department of Justice (DOJ) on Thursday filed antitrust lawsuits seeking to block Anthem’s $54 billion acquisition of Cigna and the Aetna-Humana merger. The federal complaints, filed in federal court in Washington, D.C., claim the deals would lessen competition and lead to higher prices.
Aetna and Humana in a joint statement Thursday said the facts do not support the DOJ action, citing robust competition in Medicare; regulators in 18 of 20 states have approved the transaction. The two companies said perceived competitive concerns could be addressed through divestitures. The statement said a combined company is in the best interest of consumers, particularly seniors seeking affordable, high-quality Medicare Advantage plans.
