Health insurer Aetna quarterly profit soars 75.5 pct

Industries Reuters

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Aetna, which has agreed to be bought by CVS Health, reported a 75.5 percent rise in quarterly profit on Tuesday, due to lower restructuring and transaction and integration-related costs.

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U.S. drugstore operator CVS agreed in December to acquire Aetna for $69 billion seeking to tackle soaring healthcare spending through lower-cost medical services in pharmacies.

Net income attributable to Aetna rose to $244 million, or 74 cents per share, in the fourth quarter ended Dec. 31, from $139 million, or 39 cents per share, a year earlier.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Martina D'Couto)