Cigna Corp (CI) has released an update.
On January 31, 2024, Cigna announced it has entered into an agreement to sell its Medicare Advantage and other related businesses to HCSC for approximately $3.7 billion, anticipating a pre-tax loss of $1.5 billion in net income due to the sale. The transaction, expected to close in the first quarter of 2025 pending regulatory approval, will not impact Cigna’s adjusted income from operations for the fourth quarter of 2023.
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For a comprehensive understanding of the announcement, you can read the full document here.
