Healthcare Finance News January 31, 2024
The company will redirect its resources to Evernorth Health Services and Cigna Healthcare.
Health company Cigna has entered into a definitive agreement to sell its Medicare Advantage, Supplemental Benefits, Medicare Part D and CareAllies businesses to Health Care Service Corporation (HCSC) for about $3.7 billion.
As part of the transaction, The Cigna Group and HCSC have agreed to enter into a four-year services agreement under which Evernorth Health Services, a subsidiary of Cigna, will continue to provide pharmacy benefit services to the Medicare businesses when the transaction closes.
The transaction is expected to close in the first quarter of 2025, subject to the usual regulatory approvals. There is no financing condition.
WHAT’S THE IMPACT
Cigna Group Chairman and CEO David...
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