M&A Deal Summary

Health Care Service Acquires Cigna - Medicare Businesses & CareAllies

On January 31, 2024, Health Care Service acquired healthcare services company Cigna - Medicare Businesses & CareAllies from Cigna for 3.3B USD

Acquisition Highlights
  • This is Health Care Service’s 1st transaction in the Healthcare Services sector.
  • This is Health Care Service’s largest (disclosed) transaction.
  • This is Health Care Service’s 3rd transaction in the United States.
  • This is Health Care Service’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2024-01-31
Target Cigna - Medicare Businesses & CareAllies
Sector Healthcare Services
Buyer(s) Health Care Service
Sellers(s) Cigna
Deal Type Divestiture
Deal Value 3.3B USD

Target

Cigna - Medicare Businesses & CareAllies

Bloomfield, Connecticut, United States
Cigna's Medicare Businesses & CareAllies provides 3.6 million Medicare members, with nearly 600,000 in Medicare Advantage plans, more than 450,000 on Medicare Supplement plans and 2.5 million with Medicare Part D. CareAllies – which serves approximately 450,000 patients – is focused on driving the transition to physician value-based care by partnering with providers to form independent physician associations and accountable care organizations, as well as providing management services to support value-based care arrangements.

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Buyer(S) 1

Buyer

Health Care Service

Chicago, Illinois, United States
Category Company
Sector Healthcare Services
DESCRIPTION

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.

DEAL STATS #
Overall 3 of 3
Sector (Healthcare Services) 1 of 1
Type (Divestiture) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 3 of 3
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-11 Trustmark Health Benefits

Lake Forest, Illinois, United States

Trustmark Health Benefits designs and offers custom plans that help manage costs through innovative solutions, data transparency and member-centric support. Trustmark Health Benefits is based in Lake Forest, Illinois.

Buy -

Seller(S) 1

SELLER

Cigna

Bloomfield, Connecticut, United States
Category Company
Founded 1792
Sector Healthcare Services
Employees70,325
Revenue 195.2B USD (2023)
DESCRIPTION
Cigna office in Pittsburgh, Pennsylvania.
Cigna office in Pittsburgh, Pennsylvania.

Cigna is a health services organization. Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance. Cigna dates back to 1792 and is based in Bloomfield, Connecticut.

DEAL STATS #
Overall 4 of 4
Sector (Healthcare Services) 3 of 3
Type (Divestiture) 4 of 4
State (Connecticut) 2 of 2
Country (United States) 3 of 3
Year (2024) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-07 Cigna - Life Accident And Supplemental Benefits Businesses

Hong Kong, China

Cigna's Life, Accident, And Supplemental Benefits Businesses operate in seven countries across Hong Kong, Indonesia, Korea, New Zealand, Taiwan, and Thailand are transferred to Chubb. Cigna's Life, Accident, And Supplemental Benefits Businesses is based in Hong Kong, China.

Sell $5.8B
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