Cigna Completes Acquisition of Express Scripts
Cigna recently announced the completion of its $54-billion purchase of Express Scripts.
Amid mounting antitrust scrutiny of CVS Health’s acquisition of Aetna, Cigna announced yesterday the completion of its $54-billion purchase of Express Scripts, according to a press release.
The companies have said that the acquisition will focus on expanding choices including a full suite of medical, behavioral, and specialty pharmacy, and other health care services. According to a Reuters article, Cigna will start offering new products next year to its corporate health insurance customers, including access to Express Scripts’ specialty pharmacy.
According to Cigna, the combination integrates 2 complementary health service companies that are positioned to deliver better care, expand choices, and drive down health care costs.
“Today’s closing represents a major milestone in Cigna’s drive to transform our health care system for our customers, clients, partners, and communities,” David M. Cordani, president and chief executive officer of Cigna, said in a statement. “Together, we are establishing a blueprint for personalized, whole person health care, further enhancing our ability to put the customer at the center of all we do by creating a flexible, open and connected model that improves affordability, choice and predictability. By approaching each individual as a whole person—body and mind as one—we are empowering and supporting customers to take control of their total health and well-being.”
Additionally, Cigna announced an incremental investment of $200 million to its charitable foundation and communities, and is launching Healthier Kids for Our Future, a community engagement program focused on addressing the well-being of children globally.
The finalized deal comes after CVS Health completed its acquisition of Aetna in November, but the consolidation faces scrutiny from those who have expressed antitrust concerns. Two pharmacist groups recently jointly filed a motion asking Judge Richard Leon of the US District Court for the District of Columbia to stop CVS and Aetna from further integration.
Cigna completes combination with Express Scripts, establishing a blueprint to transform the health care system [news release]. Cigna’s website. https://bit.ly/2BA6L4n. Accessed December 21, 2018.
Humer, C. Cigna closes $54 billion purchase of Express Scripts. Reuters. https://reut.rs/2QLcNtg. Accessed December 21, 2018.