"Cigna Approaches Multi-Billion Dollar Sale of Medicare Advantage Business"
TL;DR
Cigna is in the final stages of negotiations to sell its Medicare Advantage business to Health Care Service Corp. in a deal valued between $3 billion and $4 billion. This move represents a strategic shift for Cigna, which had previously been expanding in the Medicare sector. The sale comes after Cigna conducted an auction for the business, which generated approximately $7.9 billion in revenue in 2022 and had around 599,000 members as of the end of September.
Topics:businessbusiness-and-finance##acquisition#business-and-finance#cigna#healthcareservicecorp#insuranceindustry#medicareadvantage
- Cigna Nears Deal to Offload Medicare Business - WSJ The Wall Street Journal
- Cigna-HCSC Medicare Advantage deal under negotiation: WSJ Modern Healthcare
- HCSC in talks to buy Cigna’s Medicare Advantage: WSJ Crain's Chicago Business
- Cigna’s stock drops after WSJ report the insurer was in talks to sell its Medicare business MarketWatch
- Cigna nears $3 bln-$4 bln deal to sell Medicare Advantage unit - source Reuters
Want the full story? Read the original reporting
Read on The Wall Street Journal