HealthLeaders Media February 1, 2024
What the $3.7 billion dollar deal means for each company.
KEY TAKEAWAYS
- Cigna has agreed to sell off its Medicare Advantage business to Health Care Service Corporation for about $3.7B.
- The sale marks a big expansion move for customer-owned insurer HCSC.
- Cigna is making strategic moves in the industry as the government tightens their leash on the Medicare market.
The deal is just about sealed. Cigna is ditching its Medicare business in a sale to Health Care Service Corporation (HCSC) for around $3.7B, set to close in early 2025.
HCSC will acquire Cigna’s Medicare Advantage, Part D, Supplemental Benefits, and CareAllies businesses, which in total currently provide about $7.9B in revenue for the giant. Cigna’s Medicare business...
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