Healthcare Innovation January 31, 2024
On Jan. 31, executives at Cigna and Health Care Service Corporation announced that Cigna was selling its Medicare businesses to HCSC for $3.3 billion in cash
The Bloomfield, Conn.-based health insurer Cigna announced on Jan. 31 that it had made a definitive agreement with the Chicago-based Health Care Service Corporation, which encompasses Blue Cross Blue Shield plans in five states, for HCSC to buy its Medicare businesses for $3.3 billion in cash, with a total transaction value of $3.7 billion.
A press release posted to PR Newswire early on Wednesday morning began thus: “Global health company The Cigna Group (NYSE: CI) today announced that it has entered into a definitive agreement whereby Health Care Service Corporation (HCSC) will acquire...
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