A CVS drug store in Baltimore. Photo: Diego M. Radzinschi/ALM The sign of a CVS drug store in Baltimore. Photo: Diego M. Radzinschi/ALM

CVS Health is conducting a strategic review of options including a possible breakup, according to a person familiar with the matter, as the company faces headwinds from its drugstore chain and Aetna health insurance arm.

The diversified health care company retained bankers to facilitate the ongoing review, the person said. While CVS isn't yet close to making a decision, the person added, options under consideration include the various forms a potential breakup could take, including a separation of the company's retail and insurance businesses.

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