CVS Health names Brian Kane president of Aetna

CVS Health names Brian Kane president of Aetna Jeff Lagasse

Photo courtesy of CVS Health

CVS Health has appointed Brian Kane to the post of executive vice president and president of Aetna, effective September 1, to become a member of the company's executive leadership team and report to CVS Health president and CEO Karen S. Lynch.

"Brian has a track record of bringing customer-driven innovations to the market and delivering strong operating improvements," said Lynch in a statement.

He added that Kane's "passion" to simplify the healthcare experience pays into the company's goal of improving health and engagement while lowering costs.

WHAT'S THE IMPACT?

Kane will lead Aetna, the healthcare benefits segment of CVS Health that provides benefits and insurance solutions to employers, individuals and government entities.

He most recently acted as a strategic consultant to several private equity firms focused on healthcare services. Prior to that, Kane served as chief financial officer of Humana and oversaw its primary care businesses.

According to CVS, he also played a critical role in the formulation and execution of Humana's strategy during his time with the company. Before joining Humana, Kane spent 17 years at Goldman Sachs in the investment banking division.

Kane replaces Daniel Finke, who is stepping down for health reasons after a nearly 10-year tenure. Finke will work with Kane to ensure a seamless transition in September, the company said.

THE LARGER TREND

The announcement comes weeks after CVS Health completed an $8 billion acquisition of Signify Health. CVS bested Amazon, UnitedHealth Group and others in acquiring the home health platform. Signify was reportedly for sale by auction, with board members holding a meeting on Labor Day to discuss the bids.

Kyle Armbrester, CEO of Signify Health, is expected to continue leading Signify Health as part of CVS Health.

Private equity funds affiliated with New Mountain Capital, which owns approximately 60% of the common stock of Signify Health, agreed to vote the shares they own in favor of the transaction.

Twitter: @JELagasse
Email the writer: Jeff.Lagasse@himssmedia.com