Becker's Healthcare October 31, 2024
The Cigna Group posted a net income of $739 million in the third quarter of 2024, which included a non-cash after-tax investment loss of $1 billion related to VillageMD, according to its Oct. 31 financial report.
Cigna’s profit for the three months ended Sept. 30 is down from a net income of $1.4 billion posted over the same period last year.
The company’s Evernorth subsidiary holds a minority stake in primary care disruptor VillageMD. Walgreens Boots Alliance is the majority owner of VillageMD. Walgreens saw a $5.8 billion loss in the second quarter of 2024 due to an investment devaluation in VillageMD and said in an Aug. 7 regulatory filing that it could sell off its entire stake in...
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