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Reports Cigna may be looking to divest its group benefits business comes as rivals
are spending billions of dollars to expand their medical care provider operations.
Reuters Tuesday reported Cigna has hired an investment bank to shop the group
benefits business, saying it could be valued at up to $6 billion. Cigna's group
benefits operations include life insurance and disability benefits, which are
businesses other big health insurance companies have already unloaded in recent
years to free up cash for mergers and acquisitions.
Cigna May Divest Group Life Business To Keep
Up With Rivals Buying Providers
How did the companies combine so quickly?
Among the change agents was the Chief Technology Officer of Express Scripts
Phil Finucane. He has a killer combination of skills in his toolkit, having been an
engineer and technology leader at digital native companies such as Zynga and
Yahoo! while also working at another acquisitive behemoth, American Express,
prior to Express Scripts. As such, he has an unusual ability to draw from the
strengths of each environment.
A View From Inside Cigna's $67 Billion
Acquisition Of Express Scripts
Pharmacy benefit manager Express Scripts is launching a digital health
formulary next year: a list of digital health tools, including smartphone apps
and software-enabled medical devices, to help patients manage their
Express Scripts clients will still be able to choose which digital tools they
provide for their members.
Express Scripts plans formulary for apps, medical
Cigna and CHRISTUS Health have reached an agreement that keeps CHRISTUS
doctors, hospitals and other facilities in Cigna's commercial network in Texas and
“We are pleased to reach a new agreement with CHRISTUS Health that continues
to provide our customers affordable access to CHRISTUS facilities,” said LaMonte
Thomas, President of Cigna North Texas. “This is very good news for the people
we serve. We welcome CHRISTUS Health back to our network.”
Cigna and CHRISTUS Health Agreement
Cigna’s CEO privately expressed regret about signing on to a deal that left him
with a reduced role, said lawyers for Anthem.
Cigna shareholders were slated to get nearly a 30 percent premium for their stock
in Anthem’s $48.9 billion buyout. But David Cordani, Cigna’s chief executive officer,
lost out to Anthem CEO Joseph Swedish in a corporate duel over who would lead
the combined company, set to be the largest health insurer by membership in the
Cigna’s CEO Expressed Regret About the Anthem
Merger That Later Failed
Cigna Ventures, Cigna's corporate venture fund, led a $23 million Series D fundraising round
in GNS Healthcare, a precision medicine company with an AI platform that turns millions of
data streams into personalized insights to precisely match the appropriate treatment
intervention to the right patient at the right time.
Cigna Ventures is actively focused on identifying, assessing and sponsoring early-stage
innovative companies that warrant deeper exploration through focused proofs of concept,
pilot, and scaled launches in three core areas:
Insights and Analytics
Digital Health and Retail
Cigna Leverages AI
IBM’s health utility network includes Aetna, Anthem, Health Care Service
Corporation (HCSC), and PNC Bank. And announced at THINK 2019, IBM’s
annual conference focused on technology and business, Cigna and Sentara
Healthcare have now joined the health utility network.
“Cigna sees enormous potential for blockchain to improve the way we harness
insights across the healthcare ecosystem to better serve our customers and
communities,” said Mark Boxer, Executive Vice President and Chief Information
Cigna And Sentara Healthcare Join IBM's
Blockchain Health Utility Network To Improve
The Cigna TURBO report has dozens of pages of customer insights
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