Health insurer Aetna quarterly profit soars 75.5 percent
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A logo of Aetna is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson
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(Reuters) - Aetna Inc (NYSE: AET), which has agreed to be bought by CVS Health Inc (NYSE: CVS), reported a 75.5 percent rise in quarterly profit on Tuesday, due to lower restructuring and transaction and integration-related costs.
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)
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