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Global Health Company $89 Billion Cigna Sells Medicare Business to Health Care Service Corporation HCSC for $3.7 Billion
2nd February 2024 | Hong Kong
Global health company Cigna (2/2/24: $89 billion market value) has agreed to sell Cigna medicare business to Health Care Service Corporation (HCSC) for $3.7 billion. Announcement: “Global health company The Cigna Group (NYSE: CI) today announced that it has entered into a definitive agreement whereby Health Care Service Corporation (HCSC) will acquire The Cigna Group’s Medicare Advantage, Cigna Supplemental Benefits, Medicare Part D and CareAllies businesses, for a total transaction value of approximately $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 The Cigna Group, will continue to provide pharmacy benefit services to the Medicare businesses, effective on closing of the transaction. The transaction is expected to close in the first quarter of 2025, subject to receipt of applicable regulatory approvals and other customary closing conditions. There is no financing condition.”
“ Global Health Company $89 Billion Cigna Sells Medicare Business to Health Care Service Corporation HCSC for $3.7 Billion “
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Global Health Company $89 Billion Cigna Sells Medicare Business to Health Care Service Corporation HCSC for $3.7 Billion
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