DOTmed February 2, 2024
After almost three months, The Cigna Group has struck a deal to sell off its Medicare Advantage business to Health Care Service Corp. for $3.7 billion in cash.
This includes its Medicare Advantage, Medicare supplement, Medicare drug plans, and CareAllies unit, which was formed in 2016 to assist providers in transitioning their workflows from fee-per-service to value-based care models. The deal also includes a four-year services agreement under which Cigna subsidiary Evernorth Health Services will continue providing pharmacy benefit services to the Medicare businesses following the completion of the transaction.
According to David Cordani, chairman and chief executive officer of The Cigna Group, the company will be able to focus on allocating resources to grow its Evernorth Health Services and...
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