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New Parent Company CVS Vows To Keep Aetna Headquarters In Hartford For 10 Years

Aetna headquarters in Hartford
Aetna headquarters in Hartford Photo Credit: Aetna

CVS Health, which is seeking state approval of its $69 billion acquisition of Aetna, is making major promises to Hartford, according to a letter from the company to the Connecticut Insurance Department.

Last year, Aetna announced it was moving its headquarters to New York City, but early this year, after an incentive package fell through, CVS said it has no plans to move out of Hartford.

CVS said it will keep Aetna's headquarters in Hartford for at least 10 years and preserve staffing levels in Connecticut at about 5,300 workers for at least four years.

CVS officials also said they would honor Aetna's earlier promise to donate millions of dollars to help Hartford stabilize its city budget, unless the company was sold.

The pledge came just before the state Insurance Department held a public hearing on Thursday, Oct. 4 about the proposed deal.

Gov. Dannel P. Malloy said he was thrilled CVS's promises, calling them a positive step for Hartford and the region.

"Hartford has been Aetna's home since 1853 and I am thrilled that the capital city will remain the company's home for the foreseeable future," Malloy said in a statement. "CVS Health is a strong corporate partner for the city and state, and we welcome this long-term commitment."

Aetna also is awaiting federal antitrust approval of the proposed deal.

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