HealthExec February 1, 2024
The Cigna Group and Health Care Services Corporation (HCSC) have announced a deal which would send Cigna’s Medicare Advantage, Supplemental Benefits, Medicare Part D and CareAllies business to HCSC, pending regulatory approval.
In addition to the sale value, Cigna said the deal will enable it to free up around $400 million in capital it can redeploy, effectively putting the transaction worth closer to $3.7 billion for the company, according to the Wall Street Journal.
David Cordani, Cigna’s Chairman and CEO, said the decision was in step with the company’s strategy to focus resources and growth in its Evernorth Health and Cigna Healthcare portfolios. “While we continue to believe the overall Medicare space is an attractive segment of the healthcare market,...
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