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CVS Health names three Aetna directors to CVS Health Board

BY Sandra Levy

Following on the heels of its announcement yesterday that it has been given the Department of Justice’s approval for its proposed acquisition of health insurer Aetna, CVS Health announced that three additional Aetna directors with deep insurance company oversight experience,Edward Ludwig, Fernando Aguirre, and Roger Farah will join the CVS Health Board following the completion of its acquisition of Aetna.

The appointment of these three Aetna directors, together with the previously announced addition of Mark Bertolini, Aetna’s current chairman and CEO, will bring the total number of CVS Health Board members to 16.

CVS Health also announced that following the completion of the transaction, Eva Boratto, currently CVS Health’s executive vice president – controller and chief accounting officer, will become executive vice president and chief financial officer of CVS Health.

Shawn Guertin has decided to step away for personal and family reasons, but will remain with CVS Health until June 2019 to help the combined company with integration and financial planning strategy. As previously disclosed, Aetna will be managed as a distinct operating entity within the CVS Health organization.

“While this was a highly personal decision for Shawn, he is reassured with the knowledge that the company has an extremely strong finance team. During pre-close integration work, Shawn came to value the depth and breadth of talent in the CVS Health finance organization that will be complemented by the deep and talented bench in the Aetna finance group,” Larry Merlo, CVS Health president and CEO, said in a press statement. “We respect Shawn and wish him well.”

“We are delighted to welcome Fernando, Mark, Roger and Ed to the CVS Health Board,” CVS Health chairman David Dorman said, in a statement. “Our shareholders will benefit from the depth of their knowledge of Aetna’s business and their complementary expertise, which will be essential to the combined company as we transform the way health care is delivered in America.”

Ludwig joined the Aetna Board of Directors in 2003 and has served as Lead Director since 2012. He also is a member of the executive, investment and finance, nominating and corporate governance, and compensation and talent management committees. Farah joined the Aetna Board in 2007 and chairs the compensation and talent management committee, and he is a member of the executive and investment and finance committees. Aguirre joined the Aetna Board in 2011 and chairs the nominating and corporate governance committee, and he is a member of the executive and audit committees.

Boratto has an extensive financial background that spans more than 20 years and includes senior positions in both the pharmaceutical manufacturing and PBM industries, along with other health care finance roles. She joined CVS Health in 2010 as senior vice president, PBM Finance and most recently has served as CVS Health’s executive vice president – controller and chief accounting officer.

Prior to joining CVS Health, Boratto served in a number of executive positions at Merck & Co., including vice president, U.S. Market Finance Leader, with responsibility for financial oversight of Merck’s U.S. pharmaceutical market, and vice president, investor relations.

Ludwig has served on the Aetna Board since 2003 and has served as Aetna’s lead director since 2012. He has significant executive-level leadership and business expertise with more than 30 years of experience in the medical technology field, including serving for over ten years in each of the roles of CEO and chairman of Becton, Dickinson and Company after serving as its chief financial officer. He also has significant public company board experience serving on the board of several companies, including Boston Scientific Corporation, where he is currently the lead independent director.

Aguirre has served on the Aetna Board since 2011 and has extensive consumer products, global business and executive leadership experience, including as CEO and chairman of Chiquita Brands International, Inc. from 2004 to 2012 and in several senior positions over 23 years at The Procter & Gamble Company. He also has served as an independent director on several other public company boards.

Farah has served on the Aetna Board since 2007 and has extensive business and leadership experience. He has developed strong marketing, brand management and consumer insights in his over 40 years in the retail industry, including as co-CEO, director and executive director of Tory Burch and president, COO, director and vice chairman of Ralph Lauren Corporation. He also has extensive board experience serving on a number of public company boards and is currently the chairman of the board of Tiffany & Co.

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Amazon expands Whole Foods delivery, pickup to additional markets

BY Deena M. Amato-McCoy

Even more Whole Foods Markets customers can now take advantage of Amazon’s online delivery options.

The online giant on Wednesday said it has launched free two-hour delivery from Whole Foods through Prime Now across Annapolis, Maryland; Cleveland, Ohio; Louisville, Kentucky; North and Central New Jersey and Pittsburgh, Pennsylvania. It will also be expanding into more areas across New York City, Seattle and the San Francisco Bay Area.

The program offers Prime members two-hour delivery for free and ultra-fast delivery within one hour for $7.99 on orders of $35 or more. The service is now available in 53 cities, according to Amazon.

In addition, the online retailer now offers its grocery pickup service in Whole Foods Markets stores operating in Louisville; Dayton, Ohio, and Omaha, Nebraska. The service enables Prime members to pick up their order at a local Whole Foods Market store within an hour — without leaving their car.

Customers can choose free pickup within an hour on orders of $35. A $4.99 fee applies orders ready within 30 minutes. Including these cities, the service is now available in eight markets. More cities will be added throughout 2018.

Amazon’s curbside service takes a swipe at rivals Walmart and Target, as well as supermarket operators, including Kroger, Publix and H-E-B, which also offer drive-up grocery pickup options.

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Walgreens, LabCorp to open at least 600 in-store patient service centers

BY DSN STAFF

Walgreens and LabCorp are expanding their partnership in a big way. The two companies said Wednesday they would be opening at least 600 LabCorp patient service centers inside Walgreens U.S. locations in the next four years. The total number of centers would include the 17 that the two have opened since they announced the partnership in June 2017.

The existing LabCorp at Walgreens centers are open in Florida, Colorado, North Carolina and Deerfield, Ill., offering specimen collection services for LabCorp testing at sites located near the in-store pharmacy. The offer specimen collection for a range of testing that is performed at LabCorp’s regional and specialty laboratories. They allow for check-in on various websites, as well as onsite proprietary LabCorp|Express tablet-based check-in.

“LabCorp’s strong partnership on this joint initiative, coupled with the enthusiastic consumer feedback we’ve received, allows us to undertake an exciting expansion of our collaboration together,” said Stefano Pessina, executive vice chairman and CEO of Walgreens Boots Alliance. “This reflects our commitment to transform our stores into neighborhood health destinations that provide a differentiated, consumer-focused experience, while providing access to a broad range of affordable health care services at a trusted and convenient setting.”

The companies also are pursuing other collaboration opportunities that will leverage LabCorp’s combination of diagnostics and drug development expertise and Walgreens’ role in pharmacy, retail health and consumer engagement. Among the efforts being explored are new approaches to clinical research, helping drive patient engagement in their health, enabling value-based care and expanding the services available at the LabCorp at Walgreens sites, the companies said.

“We chose a partner with shared values and a shared vision of creating a differentiated consumer-focused experience, which has led to an extremely successful collaboration,” LabCorp chairman and CEO David King said. “LabCorp at Walgreens is a central piece of our expanding consumer strategy, as we continue to create new channels for our offering by meeting consumers where they want to be met, extending the reach of our mission to improve health and improve lives.”

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