CVS Commits to Keeping Aetna Headquarters in Hartford for Next 10 Years

CVS Health Corporation had committed to keeping the Aetna headquarters in Connecticut for at least the next 10 years, according to a letter from the company to the Connecticut Insurance Department.

In June 2017 Aetna announced it was moving its headquarters to New York City, but in January 2018, after an incentive package fell through, CVS said it had no plans to move the company headquarters. The two companies are in the midst of a mega-merger.

The letter delivered Wednesday commits to keep Aetna’s headquarters in Hartford for at least 10 years, and to maintain staffing levels in Connecticut for at least the next four years. Aetna and its subsidiaries employ about 5,200 people in Connecticut as of Oct. 1. 

Right now CVS is looking to buy the insurer for $69 billion.

Gov. Dannel Malloy said in a statement that he was “thrilled” by the news.

“CVS Health is a strong corporate partner for the city and state, and we welcome this long-term commitment. Today’s news is yet another positive step for Hartford and the capital region, coming on the heels of several major jobs announcements in the past year. I am confident that the city will continue to emerge as a hub for business, and Aetna’s continued presence is the economic backbone for long-term success,” Maloy wrote.

The Connecticut Insurance Department will hold a public hearing about the merger at the former G. Fox building tomorrow morning at 9 a.m.

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