The Cigna Group has completed the sale of its Medicare businesses to Health Care Service. The transaction includes the divestment of Medicare Advantage, Cigna Supplemental Benefits, Medicare Part D, and CareAllies businesses. The majority of the proceeds will be allocated to share repurchases, aligning with Cigna's capital deployment priorities. Cigna will continue providing pharmacy benefit services and other solutions through Evernorth Health Services to the Medicare businesses as part of service agreements with HCSC for an agreed period.
