Healthcare DIVE October 18, 2024
Emily Olsen

The healthcare and pharmacy giant also pulled its earnings guidance, citing increased medical cost pressures in its Aetna health benefits unit.

Dive Brief:

  • CVS Health replaced CEO Karen Lynch on Thursday as the healthcare and pharmacy giant’s financial challenges mount.
  • CVS’ new chief executive is David Joyner, a company veteran who most recently headed up CVS’ pharmacy benefit manager Caremark. Lynch, who held the top spot at CVS since 2021 and previously led insurer Aetna, stepped down “in agreement with the company’s Board of Directors,” according to a release.
  • The company also pulled earnings guidance provided last quarter due to higher medical costs in its Aetna health benefits segment. CVS’ stock fell more than 7% in early morning...

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Topics: Provider
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