Healthcare DIVE January 4, 2024
The news comes less than a month after Cigna and Humana reportedly abandoned their merger.
Dive Brief:
- Cigna is in exclusive talks to sell its Medicare Advantage business to Chicago-based Health Care Service Corp. for between $3 billion and $4 billion, The Wall Street Journal reported on Wednesday.
- In December, Cigna was reportedly in talks to acquire Humana. However, the deal fell apart in part due investors’ reaction to the deal, according to a WSJ report.
- The insurer has been seeking a buyer since November, according to a Reuters report. Cigna said during its third quarter earnings call in November its MA margins were below long-term targets of 4% to 5%. In 2022, the plans’ premium revenue was 4.4%...
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