The Cigna Group Completes Sale of Medicare Businesses to HCSC

Core Viewpoint - The Cigna Group has successfully completed the sale of its Medicare Advantage, Cigna Supplemental Benefits, Medicare Part D, and CareAllies businesses to Health Care Service Corporation (HCSC), which streamlines its portfolio and allows for further innovation to support customers [1][3]. Group 1: Transaction Details - The divestment is aimed at aligning with The Cigna Group's capital deployment priorities, with most proceeds expected to be allocated to share repurchases [2]. - The transaction is not expected to disrupt coverage or service for customers, clients, providers, or brokers of the Medicare or CareAllies businesses, ensuring seamless patient care [5]. Group 2: Future Commitments - The Cigna Group will continue to provide pharmacy benefit services and other solutions to the Medicare businesses through Evernorth Health Services as part of service agreements with HCSC for an agreed period post-closing [4]. - The company remains committed to serving Medicare populations through its portfolio of products and services offered via Evernorth Health Services [3]. Group 3: Leadership Statements - David M. Cordani, Chairman and CEO of The Cigna Group, expressed confidence in HCSC's ability to continue the meaningful work done for Medicare customers [3]. - Maurice Smith, HCSC's CEO, emphasized the mission of expanding access to quality health care and the importance of addressing the health and wellness needs of older Americans [5].