Aetna Announces Business Segment Realignment

(RTTNews) - Aetna (AET) announced business segment realignment, ahead of its expected acquisition by CVS Health Corp. (CVS). The company restated previous financial statements to reflect the change in today announcement, and will present financials in the new fashion when reporting first-quarter earnings May 1.

Effective for the first quarter of 2018, Aetna realigned its business segments to correspond with changes to its management structure and internal management reporting, which reflect the company's evolving business strategy of helping its members live healthier lives.

As a result of this realignment, Aetna's operations will now be conducted in the Health Care reportable segment. Health Care offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services to large and small employers, public sector employers, and Medicaid and Medicare beneficiaries. Aetna's Health Care products are offered on both an insured basis and an employer-funded basis. Health Care also includes emerging business products and services that complement and enhance Aetna's medical products.

Effective for the first quarter of 2018, Aetna will present the remainder of its financial results in the Corporate/Other category, which will consist of: Products for which Aetna no longer solicits or accepts new customers, such as its large case pensions and long-term care products; Contracts Aetna has divested through reinsurance or other contracts, such as its domestic group life insurance, group disability insurance and absence management businesses; and Corporate expenses not supporting Aetna's business operations.