The leader of CVS Health Corp.’s new health-care delivery business left after less than six months to return to his former company, UnitedHealth Group Inc.
(Bloomberg) — The leader of CVS Health Corp.’s new health-care delivery business left after less than six months to return to his former company, UnitedHealth Group Inc.
Amar Desai joined CVS in October to lead the care delivery strategy that’s a priority for Chief Executive Officer Karen Lynch. He was part of the executive leadership team reporting to Lynch, according to the October press release announcing his hiring.
Desai is rejoining UnitedHealth to advise CEO Andrew Witty, a representative from UnitedHealth said in an email. Before CVS, Desai had led Optum Pacific West, a physician network owned by UnitedHealth.
A CVS spokesperson confirmed that Desai left CVS but didn’t elaborate on the circumstances.
The drugstore chain bought health insurer Aetna five years ago, and owning primary care practices, home-health care and other medical services that treat patients directly has become increasingly central to the company’s strategy for growth.
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Last week CVS closed the acquisition of Signify Health, a home health company. CVS is also purchasing senior-focused clinic chain Oak Street Health.
CVS shares rose 2.5% Monday at 11:47 a.m. in New York, as a favorable Medicare policy decision released late Friday lifted health insurers.
The company also hired former Cigna Group executive Amy Bricker to be chief product officer for consumer-focused health businesses in January, a new position that would report to Lynch. Cigna is challenging Bricker’s hiring in court, alleging that it violates a non-compete agreement she was bound by, and in February got a temporary restraining order barring her from starting the position.
(Updates with Monday trading, additional context starting in seventh paragraph)
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