Cigna Corporation has reached an agreement to sell its Medicare business to Health Care Service Corporation (HCSC) for $3.3 billion in cash, although there is a discrepancy with another report mentioning a $3.7 billion figure. The Wall Street Journal reported this development, which marks Cigna's exit from the Medicare insurance plans market. The deal, which involves the sale of all of Cigna's Medicare insurance plans, is expected to close in 2025 pending approval from antitrust authorities and other regulators. This move comes ahead of Cigna's earnings report and is seen as a strategic step to alleviate near-term medical cost trend headwinds for Medicare Advantage (MA) and potentially simplify regulatory challenges in pursuing government business acquisitions such as Humana Inc. (HUM) or Centene Corporation (CNC). Cigna will also provide pharmacy benefit management (PBM) services to HCSC for the Medicare business it is selling.
Cigna is selling all of its Medicare Advantage plans to a Blue Cross Blue Shield insurer for $3.3 billion. https://t.co/injwVTFhRz
Cigna to sell Medicare Advantage plans to Blue Cross Blue Shield insurer for $3.3 billion https://t.co/BgTraLXlDi via @statnews
Cigna Sells Its Medicare Unit to HCSC for $3.3 Billion https://t.co/zEJU1Q0UnE
Big Blue Cross Plan To Buy Cigna’s Medicare Business For $3.3 Billion https://t.co/XrqTNTj0sX
$CI: Cigna to Sell Medicare business to HCSC for $3.3B per WSJ. $HUM $UNH Companies expect the deal to close in 2025 if antitrust authorities and other regulators sign off. “This consistent with headlines earlier in Jan that Cigna was in ‘exclusive’ talks with HCSC to sell…
Cigna is officially exiting the Medicare business, agreeing to sell all of its Medicare insurance plans to Health Care Service Corp. for $3.3 billion. https://t.co/C4lrqaUB48
Cigna officially sells its MA biz to HCSC for $3.3B Will be interesting to see what they do with it https://t.co/JjsepUJtwb
Ahead of earnings, $CI announces sale of Medicare units to @HCSC for $3.7 B, and will provide PBM services for that business. Near-term it removes MA med cost trend headwind; longer-term could make for easier regulatory landscape to pursue $HUM or $CNC for govt business. https://t.co/j8ziiIybBw
Ahead of earnings, $CI announces sale of Medicare units to @HCSC for $3.7 B, and will provide PBM services for that business. Near-term it removes MA med cost trend headwind; longer-term could make for easier regulatory hurdle to pursue $HUM or $CNC for govt business. https://t.co/4MUfoKSUPD
Cigna Group has agreed to sell its Medicare business to Health Care Service for $3.3 billion https://t.co/9okSPuFxdd https://t.co/9okSPuFxdd
Cigna to sell Medicare business to Health Care Service for $3.3 bln - WSJ https://t.co/G65tZ8gln2 https://t.co/BjdRiADyaz
$CI (+0.0% pre) Cigna Sells Medicare Business to Health Care Service Corp. for $3.3 Billion - WSJ https://t.co/iWMBDFtNtk
Cigna to sell Medicare Advantage business to Health Care Service for $3.3 billion in cash: WSJ https://t.co/GQyRO3hvMi
⚠️ CIGNA TO SELL MEDICARE BUSINESS TO HEALTH CARE SERVICE FOR $3.3 BILLION - WSJ (Reuters) Cigna has agreed to sell its Medicare business to Health Care Service Corp for $3.3 billion in cash, the Wall Street Journal reported on Wednesday. Health Care Service will buy Cigna's… https://t.co/z4EwRYaKaz
$CI | Cigna Sells Medicare Business To Health Care Service For $3.3Bln - WSJ https://t.co/dDxOY1kAJG
⚠️ PHARMA INDUSTRY TO GET US GOVERNMENT PRICE CUT PROPOSALS BY THURSDAY (Reuters) Pharmaceutical companies are due to receive by Thursday the U.S. government's opening proposal for discounts it is seeking on 10 high-cost medicines, an important step in the Medicare health…