All posts on November, 2017


ApprovedBusinessBusiness and finance

A merger between CVS Health and Aetna could be what the doctor ordered

STANLEY and Sidney Goldstein would scarcely recognise their creation. In 1963 the brothers opened a humble storefront in Lowell, Massachusetts, selling health and beauty products. Determined to put customers first, they named their enterprise Consumer Value Stores. Today the Goldsteins’ startup, soon afterwards sold to a bigger firm, is nothing short of a health-care Goliath.

Revenues at CVS Health reached $177bn last year, riches which come from 9,700 retail pharmacies and from its operations in mail-order drugs and sales of more expensive speciality medicines. The firm commands nearly a quarter of the American market for prescription drug sales (see chart). It is also the biggest pharmacy-benefit manager (PBM) in America, a type of middleman that negotiates bulk discounts on drugs with large pharmaceutical firms on behalf of employers and insurers.

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Developers

New Collaborative Platform to Spur Open Source AI Development

The Linux Foundation has announced an agreement with AT&T and Tech Mahindra to launch the Acumos Project, a new platform for open source development of artificial intelligence. The new platform is part of a broader effort to open up opportunities for AI collaboration in the telecommunications, media and technology sectors. AT&T is a Platinum Member of The Linux Foundation.

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