Cigna

Cigna Corporation completed the sale of its life, accident, and disability insurance business to New York Life Insurance Company. This strategic transaction was valued at $6.3 billion and allowed Cigna to focus more on its core health service markets, including health, pharmacy, and dental, as well as government-sponsored healthcare programs. The sale facilitated Cigna's capital allocation to growth initiatives in these areas.

Cigna announced a new initiative to expand its virtual healthcare offerings by enhancing its partnership with MDLIVE. This initiative was strategically designed to offer Cigna users access to telehealth services, which became especially important as telemedicine demand surged due to the COVID-19 pandemic. Through this enhanced relationship, Cigna aimed to increase accessibility to remote healthcare services, scaling its digital health competencies to improve patient care.

Cigna Corporation reported substantial growth in 2019 due to its acquisition of Express Scripts, demonstrating significant increases in revenue and profits. Total revenue for 2019 was $153.6 billion, a strong performance attributed to Cigna's expanded pharmacy services and benefits management capabilities. This financial success showcased the effectiveness of Cigna's strategic direction and its ability to integrate acquired assets efficiently, thus providing enhanced value to shareholders.

Cigna Corporation reached a $2.75 million settlement over allegations that it overcharged Medicare patients for prescription drugs. The settlement resolved claims that Cigna's Cigna-HealthSpring violated the False Claims Act by submitting inaccurate information, which resulted in higher charges for patients. This case highlighted the scrutiny Cigna faced from regulators in an environment focused on healthcare transparency and accountability, pushing the company to assure compliance and proper billing practices.

Cigna announced the relocation of its corporate headquarters from Bloomfield, Connecticut, to a new location in the Greater Hartford area. This move represented a strategic decision to support the company's rapid growth and operational efficiency. The relocation was also aimed at providing a more integrated working environment for its employees, facilitating better collaboration and innovation through a modernized headquarters.

Cigna Corporation successfully completed its merger with Express Scripts, one of the largest pharmacy benefit management organizations in the United States. This merger, valued at $67 billion, was a significant move to integrate pharmacy benefits with health insurance, creating a more streamlined and potentially cost-effective healthcare experience for consumers. The union aimed to drive innovation and improve health outcomes through a deeper alignment of health services.

Cigna Corporation announced its plans to merge with Express Scripts, a decision driven by the need to combine health services and pharmacy benefits. This planned merger signaled a major shift in the healthcare industry by potentially lowering costs and improving care management. Financial analysts noted the move as an opportunity for Cigna to expand its market share and leverage Express Scripts' pharmacy network to provide more comprehensive healthcare solutions to consumers.

Cigna launched its 'Cigna Well-Being Solutions' targeted globally to address wellness in the workplace. This program was designed to help multinational corporations improve employee wellness and productivity through tailored solutions. Cigna's initiative included offering wellness assessments, health coaching, and online education services, reflecting Cigna's commitment to improving health outcomes beyond traditional healthcare settings by focusing on overall health and prevention.

Following the failed merger attempts with Anthem, Cigna filed a lawsuit against Anthem seeking a $1.85 billion termination fee and additional damages. The lawsuit was filed after the merger was blocked by a federal judge on antitrust grounds. This legal battle underscored the challenges and complexities involved in large mergers and acquisitions in the healthcare industry, particularly regarding regulatory compliance and competitive concerns.

Cigna Corporation and Anthem Inc. announced a planned merger at a value of $54 billion. The merger aimed to create one of the largest health benefit companies in the United States. Despite initial positive reactions, the merger faced multiple regulatory challenges including antitrust concerns. The deal was eventually called off in 2017 following a U.S. district court ruling against it, but it marked a significant attempt in the health insurance industry's consolidation efforts.