Health Care Service Corp Acquires Cigna's Medicare Business for $3.7 Billion
TL;DR Summary
Health Care Service Corporation is set to acquire Cigna's Medicare business for $3.7 billion, gaining control of Cigna's Medicare Advantage, Supplemental Benefits, and Part D customers, as well as the CareAllies business. The deal includes Cigna's Evernorth Health Services unit providing pharmacy benefits for four years. Cigna's CEO cited the need for sustained investment and dedicated resources for their Medicare businesses, while the acquisition is expected to bring opportunities for Health Care Service and its members. The deal is anticipated to close in the first quarter of 2025.
Topics:business#acquisition#cigna#health-care-service-corporation#healthcare-business#healthcare-industry#medicare
- Health Care Service to buy Cigna Medicare business in $3.7 billion sale USA TODAY
- CT-based health insurer Cigna to sell certain businesses for $3.7 billion Hartford Courant
- Cigna, Health Care Service Corporation agree to Medicare deal Modern Healthcare
- Health Care Service Corp to buy Cigna Medicare Advantage plans STAT
- Cigna Sells Medicare Business to Health Care Service Corp. for $3.3 Billion - WSJ The Wall Street Journal
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
1 min
vs 2 min read
Condensed
65%
251 → 88 words
Want the full story? Read the original article
Read on USA TODAY