CVS Management, Board Have Been Weighing Options for Months (3)

CVS Health Corp. has been reviewing its strategic options for months, including a potential breakup, according to a person familiar with the talks, as rising medical costs in its Aetna insurance arm weigh on the health-care conglomerate.

The entrance of hedge fund Glenview Capital Management, which approached the company a few weeks ago about improving the business, made the conversation public and ratcheted up pressure on Chief Executive Officer Karen Lynch.

Karen S. Lynch

Photographer: Charles Krupa/AP Photo

After CVS spent years creating a one-stop shop for medical services, recent challenges have called into question the company’s execution. A government crackdown on spending, post-pandemic ...