CVS Health has named Mark Santos as president, Aetna Medicaid.
The announcement comes on the heels of the pharmacy giant’s third quarter revenue results, revenues that totaled nearly $90 billion, beating overall analyst expectations.
But CVS stock dipped after the earnings call in part because of higher-than-expected costs at Aetna.
Santos will oversee strategy, operations, and growth initiatives for Aetna Medicaid, which has 2.6 million members across 16 state health plans.
He will report to Brian Kane, executive vice president, CVS Health, and president, Aetna.
Santos isn’t new to CVS — he recently served as Aetna vice president and head of Diversified Commercial Solutions for over two years. He also led the company’s re-entry into the Federal Individual Exchange Marketplace in 2022.
Previously, Santos held other leadership positions within Aetna, including head of its Commercial Underwriting organization, president of the New England market, vice president and head of Dental and Vision, chief of staff and head of Strategy for Aetna Government Services, and as a senior leader with Aetna Medicaid.
“With a career spanning nearly 20 years at Aetna, Mark has held leadership roles that have shaped his view and enthusiasm for helping people improve and maintain their health and wellbeing,” said Kane in a statement.