Health Care Service Corp Acquires Cigna's Medicare Business for $3.7 Billion
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.