CVS says Aetna will stay in Hartford

Published on Friday, 12 January 2018 21:41
Written by The Associated Press

HARTFORD (AP) - CVS Health Corp. said Friday it has “no plans” to move Aetna from Connecticut’s capital city, reversing last year’s announcement by the insurance giant that it would move its headquarters to another state after nearly two centuries in Hartford.

The statement came the day after CVS officials met with Hartford Mayor Luke Bronin and Gov. Dannel P. Malloy, both Democrats, and days after New York City halted a $9.6 million incentive package to lure Aetna.

“We have no plans to relocate Aetna’s operations from Hartford and, in fact, view Hartford as the future location of our center of excellence for the insurance business,” said Carolyn Castel, CVS Health’s vice president of corporate communications, in a written statement.

She noted that while CVS Health will continue to be headquartered in Woonsocket, Rhode Island, the drugstore chain and health benefits company also operates “a number of large corporate hubs, or centers of excellence, in other states, including Arizona, Illinois and Texas.”

CVS Health announced in December it was buying Aetna. At that time, Aetna said all of its locations would be evaluated as part of the merger.

Aetna traces its roots in Hartford to the 1800s. It employs about 6,000 people in the state. News of the headquarters moving was seen as another blow to Connecticut, which saw General Electric move its headquarters from the state to Boston. It prompted officials to re-examine how they could dissuade companies from relocating to places considered more innovative.

Posted in New Britain Herald, State on Friday, 12 January 2018 21:41. Updated: Friday, 12 January 2018 21:43.