Jim Cramer talks with CVS CEO Larry Merlo, who says reducing medical costs with the Aetna merger will unlock billions of dollars in value for the company.
CVS Health CEO Larry Merlo told CNBC Thursday that the health chain is unlocking growth opportunities despite the stock's downward trend since officially merging with Aetna in November.
"The real growth opportunity in that space is in the assisted and the independent living space," Merlo said in an interview with "Mad Money's" Jim Cramer."We feel that we've got the business stabilized and it'll grow from this point forward." "Percentage points are going to matter here," he said."Being able to reduce those unnecessary costs, you know, the value created is going to start with a 'b' as in billion. That's the opportunity that's in front of us."
Merlo also highlighted early results in new HealthHUBs concept stores being piloted in the Houston, Texas area. The revamped stores are tailored for clinical services including treating acute illnesses and managing chronic diseases. Dietitians and respiratory therapists are on staff, Merlo said.
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