Cigna Group Reportedly Nears a $3 Billion-$4 Billion Deal to Sell Its Medicare Advantage Unit

Health insurer Cigna Group is in exclusive talks to sell its Medicare Advantage business to Health Care Service Corp (HCSC) in a deal that could value the unit between $3 billion and $4 billion, a source familiar with the matter said on Wednesday.

Health insurer HCSC, a Blue Cross Blue Shield licensee in five U.S. states, said it does not comment on “rumor or speculation”.

Shares of Cigna fell about 2% on the news and the company did not immediately respond to a request for comment.

Read the source article at Yahoo News