Health Care Service - M&A Summary and Business Overview

Healthcare ServicesCompany

Health Care Service M&A Summary

Health Care Service has acquired 3 companies, including 2 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 1 asset.

Health Care Service’s largest acquisition to date was in 2024, when it acquired Cigna - Medicare Businesses & CareAllies for $3.3B. Health Care Service has acquired in 3 different US states. The Company’s most targeted sectors include business services (34%) and healthcare services (34%).

Health Care Service Business Overview

Where is Health Care Service headquartered?

Health Care Service is headquartered in Chicago, Illinois.

What sector is Health Care Service in?

Health Care Service is a healthcare services company.

M&A Summary

  • M&A Total Activity4
    • M&A Buy Activity3
    • M&A Sell Activity1
  • Total Sectors Invested 3
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 3
  • M&A Advisors 4

Health Care Service Corp.

300 E. Randolph St.,
Chicago, Illinois 60601
United States,
(800)654-7385
www.hcsc.com

HCSC is a customer-owned health insurer in the United States and fourth largest overall, operating through its Blue Cross and Blue Shield® Plans in Illinois, Montana, New Mexico, Oklahoma and Texas.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 1 - - 1 - 1 3
vol $3.3B $3.3B
Sell (0.0/yr) # 1 - - - - - 1
  4

Most Recent M&A

Company Date Value Type
Cigna - Medicare Businesses & CareAllies 2024-01-31 3.3B USD Divestiture
Bloomfield, Connecticut
Trustmark Health Benefits 2022-08-11 - Add-on Acquisition
Lake Forest, Illinois · www.trustmarkbenefits.com
TMG Health, Inc. 2017-06-13 - Divestiture
King Of Prussia, Pennsylvania · www.tmghealth.com
TMG Health, Inc. 2008-11-13 - Add-on Acquisition
King Of Prussia, Pennsylvania · www.tmghealth.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Trustmark Health Benefits 2022-08-11 Enroll For Life 2024-11-07 1
Lake Forest, Illinois · www.trustmarkbenefits.com Nashville, Tennessee · www.enrollforlife.com
Dearborn National Life Insurance Co.    - Colorado Bankers Life Insurance Co. 2015-07-21 1
Downers Grove, Illinois · www.dearbornnational.com Greenwood Village, Colorado · www.cbl-life.com

M&A by Sector

Sector Buy # Value Sell # Value
Information Technology 1 (33%) - 1 (100%) -
Business Services 1 (33%) - - -
Healthcare Services 1 (33%) 3.3B (100%) - -
Total 3 $3.3B 1 -

By Geo

State/Country Buy Value Sell Value
United States 3 3.3B 1 -
  Pennsylvania 1 - 1 -
  Illinois 1 - - -
  Connecticut 1 3.3B - -
Total 3 $3.3B 1 -

Top M&A Advisors

Financial Deals
Barclays Investment Bank
2
J.P. Morgan Securities
1
Legal Deals
Foley & Lardner
1
Cravath, Swaine & Moore
1

Deal Values

buy # Total
> $1B 1 $3.3B
TOTAL $3.3B
Largest Cigna - Medicare Businesses & CareAllies
$3.3B (2024-01-31)

M&A Connections

Deals
Acquired from
Investor(s)
33%
1 (33%)
Strategic(s)
33%
1 (33%)
Divested to
Strategic(s)
100%
1 (100%)

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