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Can PBM Exec Joyner Fix CVS’s Insurance Woes? Analysts Aren’t Sure

  • Oct 24
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    Oct 24, 2024

    With the financial performance of its Aetna segment continuing to worsen, CVS Health Corp. last week revealed that it replaced President and CEO Karen Lynch with David Joyner, president of CVS Caremark.  

    But is Joyner — even with his experience managing a PBM — the right choice to helm CVS’s turnaround amid plummeting stock prices and ongoing pressure from investors? Securities and credit rating analysts appear to have mixed opinions. 

    “A bit of a concern I had when Karen [Lynch] left the company was that the primary issues right now revolve around Aetna,” says Brad Ellis, senior director in Fitch Ratings’ North American insurance rating group. “She grew up in the health insurance sector, so she knew a lot about that business…I was somewhat hopeful that she would be able to turn around the health insurance business.”  

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    • Leslie Small

    Leslie has been working in journalism since 2009 and reporting on the health care industry since 2014. She has covered the many ups and downs of the Affordable Care Act exchanges, the failed health insurer mega-mergers, and hundreds of other storylines spanning subjects such as Medicaid managed care, Medicare Advantage, employer-sponsored insurance, and prescription drug coverage. As the managing editor of Health Plan Weekly and Radar on Drug Benefits, she writes and edits for both publications while overseeing a small team of reporters who also focus on the managed care sector. Before joining AIS Health, she was a senior editor for the e-newsletter Fierce Health Payer, and she started her career as a copy editor at multiple local newspapers. She graduated with a dual degree in journalism and political science from Penn State University.

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