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CVS And Aetna Have Officially Formed One Big Health Care Company

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CVS And Aetna Have Officially Formed One Big Health Care Company
On Wednesday, CVS announced it's completed its acquisition of health insurance company Aetna.
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CVS and Aetna have officially combined forces.  

CVS announced Wednesday that its acquisition of health insurance giant Aetna is now complete. 

The $70 billion deal combines CVS' pharmacies with Aetna's insurance business, which experts say will change the health care landscape for consumers. 

But the move didn't come without some skepticism. Critics of the agreement say the consolidation of two of the biggest companies in health care will reduce competition, leaving consumers with fewer choices and higher costs. 

The DOJ, which preliminarily approved the deal in October, said the merger may lower Americans' health care costs and boost the quality of care.

While consumers won't see an immediate difference in local stores, the companies have said their joint efforts will allow them to focus on patients at a local level.