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☆ Cigna will cap how much insurance can spend on weight loss drugs as it tries to expand coverage
▼ + stars: | 2024-03-07 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Cigna on Thursday said it will limit how much health plans and employers spend on weight loss drugs each year in a bid to expand insurance coverage for those highly popular treatments. The effort by insurance giant Cigna could make weight loss treatments more accessible. They deferred CNBC to Cigna for details on the insurance spending cap. Those medicines treat weight loss and diabetes by mimicking one or more hormones produced in the gut to suppress appetite and regulate blood sugar. Cigna said providing "financial predictability" through a cost cap will allow health plans and employers to better plan to manage GLP-1 spending.

Persons: Cigna, Eli Lilly Organizations: CNBC, drugmakers Novo Nordisk, Novo Nordisk Locations: Oslo, Norway, mull

☆ The red-hot health-plan business for seniors is finally cooling off
▼ + stars: | 2024-02-06 | by ( ) www.businessinsider.com time to read: +6 min

Read previewHealth insurance giant Cigna is exiting the lucrative senior business that's been a boon to insurers' bottom lines for years. It's a sign that the glory days of Medicare Advantage might be coming to an end. Cigna's senior business isn't the biggest, but it's also nothing to sneeze at. In January, Humana, the second-largest Medicare Advantage insurer with 6 million members, slashed its profit projections because of these costs. AdvertisementIn late 2023, rumors swirled that Cigna was looking to sell its Medicare Advantage plans so it could pull off a merger with Humana—the second-largest Medicare Advantage insurer.

Persons: —, that's, Cigna, it's, It's, David Cordani, Cordani, Gary Taylor, Cowen, Taylor, Dean Ungar, Humana, Ungar Organizations: Service, Health Care Service Corp, Medicare, Business, Kaiser Family Foundation, Competition, Humana, Moody's Investors Service Locations: Illinois

Elsewhere, Goldman Sachs reiterated a buy rating on Nvidia and raised its price target on the high-flying semiconductor maker. Yet his price target sits at $225, implying an upside of 19.7% as he sees opportunity elsewhere. "Anyone pulling up a chart of UBER share price performance in 2023 will think, 'That's a scary chart. Analyst Sarah James upgraded the insurer to overweight from neutral and hiked her price target o $372 from $334. — Alex Harring 5:42 a.m.: Goldman hikes Nvidia price target Things continue to look up for Nvidia , according to Goldman Sachs.

Persons: Goldman Sachs, Piper Sandler, Alexander Potter, Potter, Tesla, Alex Harring, Bernstein, Uber, Nikhil Devnani, Devnani, — Alex Harring, Keith Horowitz, Horowitz, Cantor Fitzgerald Cigna, Cantor Fitzgerald, Sarah James, James, Ben Hendrix, Hendrix, Christopher Horvers, Horvers, Barbie, Goldman, FY4Q, Toshiya Hari, Fred Imbert Organizations: CNBC, JPMorgan, Mattel, Nvidia, Citi, Investors, Citizens, Financial, New York Community Bancorp, Aozora, T Bank, RBC Capital, Warner Bros, Golden Globes, Microsoft Locations: California, New, Friday's

☆ Why we see a way forward for Nvidia in China — plus our take on 2 other stocks in the news
▼ + stars: | 2023-12-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Meanwhile, Jim Cramer's interview with an influential member of President Joe Biden's cabinet proved encouraging for Club holding Nvidia . It's been a two-session roller-coaster ride that illustrates the importance of staying disciplined and not chasing stocks while they're surging for non-fundamental reasons. Traders were trying to front-run the official announcement, pushing Linde stock up 4.53% Tuesday, to an all-time high of $426.72 per share. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Nvidia CEO Jen-Hsun Huang at the Consumer Elctronics Show (CES) in Las Vegas, USA, 04 January 2017.

Persons: Linde, Jim Cramer's, Joe Biden's, It's, Pfizer's, drugmaker Seagen, there's, Gina Raimondo, Jim, Biden, Raimondo, " Raimondo, Cigna, Humana's, —, Humana, Aetna's, Jim Cramer, Jen, Hsun Huang, Huang, Andrej Sokolow Organizations: Club, Nvidia, LIN, Linde, Nasdaq, Traders, . Commerce, U.S, Bank of America, Wall Street Journal, Humana, CNBC, Consumer, Audi, Getty Locations: China, U.S, Wall, Las Vegas, USA

Dec 5 (Reuters) - Eli Lilly (LLY.N) on Tuesday said its recently approved obesity treatment Zepbound is now available in U.S. pharmacies and could cost $550 a month for customers whose health insurance does not cover the drug, or half the list price. Wall Street analysts expect sales of Zepbound to reach about $2 billion in 2024, and for sales of Novo Nordisk's (NOVOb.CO) rival obesity drug Wegovy to hit around $7.5 billion. An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. When the U.S. Food and Drug Administration approved Zepbound in November, Lilly said it would launch after the U.S. Thanksgiving holiday. Lilly's obesity drug has the same active ingredient, tirzepatide, as its previously approved diabetes drug Mounjaro, which has been used off-label for weight loss since its 2022 launch.

Persons: Eli Lilly, Wegovy, danuglipron, Zepbound, Lilly, Mike Segar, Eli Lilly's, Patrick Wingrove, Manas Mishra, Khushi, Arun Koyyur, Alexander Smith, Bill Berkrot Organizations: Wall Street, Novo, Pfizer, Company, REUTERS, CVS, U.S . Food, Drug Administration, U.S, Thomson Locations: U.S, Branchburg , New Jersey, Indianapolis, New York, Bengaluru

☆ Eli Lilly weight loss drug Zepbound now available at pharmacies as rival Wegovy faces shortages
▼ + stars: | 2023-12-05 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Eli Lilly on Tuesday said its recently approved weight loss treatment Zepbound is now available at pharmacies across the U.S., serving as an alternative to rival obesity drugs such as Wegovy that are facing supply issues. High demand for the treatments has resulted in widespread shortages of Novo Nordisk 's Wegovy and diabetes drug Ozempic as well as Eli Lilly's diabetes treatment Mounjaro, pushing companies to ramp up production. Eli Lilly also said in a release that its commercial savings card program, which aims to expand access to Zepbound, is now available to patients with a prescription. Also on Tuesday, Eli Lilly said Zepbound was added to the preferred formulary, or list of covered drugs, of a major drug benefits company, Cigna . Zepbound will be added to the commercial formularies of Cigna's health-care business on Dec. 15, according to Eli Lilly.

Persons: Eli Lilly, Eli, Zepbound, Rhonda Pacheco, Eli Lilly's Organizations: Novo Nordisk, CNBC PRO Locations: U.S, Novo

☆ How Mark Cuban forced the biggest US pharmacy to upend its business
▼ + stars: | 2023-12-05 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

The new program includes a set markup for medication costs, a step toward drug pricing transparency. The retailer has been facing pressure from new models like Mark Cuban Cost Plus Drugs. They've been especially focused on pharmacy-benefit managers and the lack of transparency around how much drugs cost. How Mark Cuban changed drug pricingCuban's pharmacy buys drugs directly from manufacturers and sells them to consumers at a 15% markup, plus pharmacy fees. AdvertisementBut the announcement looks to be a step in the right direction for drug pricing transparency.

Persons: —, Mark, Prem Shah, Mark Cuban, GoodRx, PBMs, Kroger, it's Organizations: CVS, Cuban, Plus, Service, Mark Cuban, Federal, US Federal Trade Commission, CVS Health, Kroger, Walgreens, Drug, Wall Street Locations: California

☆ Jim Cramer blasts the prospect of a Humana-Cigna deal — it could never be approved by regulators
▼ + stars: | 2023-11-30 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +3 min

That's a major reason why we took a stake in the company in April 2022 and a key growth area for the health insurance industry overall. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Cigna, I've, Jim, It's, That's, Joe Biden, Biden, Lina Khan, Jim Cramer's, Ty Wright Organizations: Street, Humana, Express, Aetna, CVS Health, Cigna, Federal Trade Commission, Justice Department, FTC, CNBC, Bloomberg, Getty Locations: U.S, Louisville , Kentucky

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 29 (Reuters) - Cigna (CI.N) and Humana (HUM.N), two of the biggest U.S. health insurers, are in talks for what could be the largest merger announced in 2023, according to a source familiar with the matter. A Humana and Cigna combination would give the merged company the scale to rival UnitedHealth Group (UNH.N) and CVS Health (CVS.N). In July 2016, the Justice Department filed lawsuits against two health insurance mergers on the same day, saying they would lead to less competition and higher prices for Americans. Health insurers have been facing higher medical costs as people return for procedures they had put off during the pandemic. Humana in February said that it would sell its commercial business but keep its Medicare Advantage products.

Persons: Andrew Kelly, Cigna, Cigna's, Aetna, Bill Baer, Andre Barlow of Doyle, Barlow, Mazard, Bernstein, Lance Wilkes, Craig Garthwaite, Manas Mishra, Diane Bartz, Deena Beasley, Caroline Humer, Bill Berkrot Organizations: Humana Inc, REUTERS, Street Journal, UnitedHealth, CVS Health, Humana’s, Medicare, Affordable, Justice Department, Humana, U.S ., Reuters, Northwestern University, Thomson Locations: Queens , New York City, U.S, Cigna, Bengaluru, Washington, Los Angeles

☆ US health insurers Humana, Cigna in talks to merge - WSJ
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

[1/2] Signage for Humana Inc. is pictured at a health facility in Queens, New York City, U.S., November 30, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 29 (Reuters) - Health insurers Cigna (CI.N) and Humana (HUM.N) are in talks for a merger, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Cigna's shares were down 4.4% in noon trading, while Humana's stock was flat. The companies did not immediately respond to Reuters requests for comment. Reporting by Manas Mishra in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Cigna, Manas Mishra, Sriraj Organizations: Humana Inc, REUTERS, Health, Cigna, Wall Street, Thomson Locations: Queens , New York City, U.S, Bengaluru

☆ Cigna, Humana shares fall after report health-care giants are in talks to merge
▼ + stars: | 2023-11-29 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Shares of Cigna and Humana slid Wednesday after a report that the two health-care giants are in talks to merge. A Cigna spokesperson did not immediately respond to CNBC's request for comment on the report from The Wall Street Journal, which cited people familiar with the matter. A Humana spokesperson declined to comment. A Cigna spokesperson at the time said the company does not comment on "rumors or speculation." Some analysts have suggested that a potential combination with Humana could be a reason for Cigna to offload its Medicare Advantage business.

Persons: Humana's, Cigna, Scott Fidel, Stephens, Fidel Organizations: Humana, Wall Street, STAT, CNBC PRO

☆ Exclusive: Cigna explores shedding Medicare Advantage business -sources
▼ + stars: | 2023-11-06 | by ( David Carnevali | ) www.reuters.com time to read: +4 min

Cigna is working with an investment bank to evaluate options for its Medicare Advantage business, which could fetch several billions of dollars in a potential divestment, the sources said. Cigna's Medicare Advantage business generated 4.4% of the company's $179.4 billion in revenue from external customers in 2022. Cigna also said profit margins in Medicare Advantage in 2023 continue to be below its long-term target of 4% to 5%, which it expected to remain the case in 2024. Cigna has said it expects changes to the government's star rating system, which informs some of the reimbursement decisions, will lead to a decrease in the rating of its Medicare Advantage business in payment-year 2024. Cigna said in September it would pay about $172 million to settle charges from U.S. prosecutors that it overcharged the Medicare Advantage program by making patients appear more ill than they actually were.

Persons: Andrew Kelly, Cigna, Goldman Sachs, David Carnevali, Bill Berkrot Organizations: REUTERS, Cigna, Reuters, Medicare, U.S . Centers, Services, U.S . Department of Health, Human Services, Thomson Locations: Queens , New York City, U.S, HealthSpring, Bloomfield , Connecticut, New York

☆ US pharmacy chain Walgreens names Tim Wentworth as CEO
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

Pigeons are seen resting on signage for Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 10 (Reuters) - U.S. pharmacy chain operator Walgreens Boots Alliance (WBA.O) on Tuesday said it has appointed Tim Wentworth as its new chief executive and he will assume the role on Oct. 23. Last month, Rosalind Brewer had abruptly stepped down as CEO of the company after less than three years at the top job. Wentworth, who was CEO of Cigna's (CI.N) Evernorth unit till he retired in 2021, will also join the WBA Board of Directors. Walgreens has been looking to expand beyond its core business, with acquisitions of healthcare services operator VillageMD and urgent-care provider Summit Health.

Persons: Andrew Kelly, Tim Wentworth, Rosalind Brewer, Wentworth, Urvi, Rashmi Organizations: Walgreens, Walgreens Boots Alliance, Inc, REUTERS, WBA, Rite Aid, CVS Health, Summit Health, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ Walgreens names veteran health-care executive Tim Wentworth as next CEO
▼ + stars: | 2023-10-11 | by ( Bertha Coombs | ) www.cnbc.com time to read: +1 min

Walgreens Boots Alliance has chosen veteran health care executive Tim Wentworth as the company's new chief executive. Wentworth is the former CEO of the nation's largest pharmacy benefits management company, Express Scripts, which was acquired by Cigna in 2018. He stayed on and served as chief of Cigna's health services, before retiring at the of 2021. Under Brewer's tenure, Walgreens took a major stake in primary care provider VillageMD, acquired specialty pharmacy provider Shields Health, as well as homecare provider CareCentrix. Trying to integrate and scale the businesses has pressured Walgreens' earnings.

Persons: Tim Wentworth, Wentworth, it's, Roz Brewer Organizations: Walgreens, Walgreens Boots Alliance, Express, Cigna, CNBC, Shields Health Locations: Hollywood , California, CareCentrix

☆ The healthcare venture firm behind Livongo just raised $217 million to back the next generation of digital-health giants
▼ + stars: | 2023-10-03 | by ( Blake Dodge | ) www.businessinsider.com time to read: +6 min

7wireVentures, a prominent venture-capital firm, just raised $217 million to fund the next generation of healthcare startups, bringing the firm's total assets under management to more than $500 million. The fund, which closed last Friday, is the biggest that 7wire has ever raised and represents a strategy shift for the firm. The startups Folx Health and Parsley Health, new investments for 7wire, have also won contributions from the new fund. Livongo7wire keeps funds and the portfolio size, just north of 20 startups, both relatively small, all managed by only four partners: Tullman, Jaffee, Shapiro, and Garber. The small size of the operation is intentional in keeping with 7wire's "quality over quantity" approach to investing, Garber said.

Persons: 7wire, Glen Tullman, Lee Shapiro, Alyssa Jaffee, Alyssa Jaffee Alyssa Jaffee, Jaffee, Tullman, Shapiro, Robert Garber, Livongo's, Livongo 7wire, Garber, Jaffe Organizations: Folx, Parsley Health Locations: Tullman

☆ Walgreens considers former Cigna exec. Tim Wentworth as next CEO - Bloomberg News
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: 1 min

Sept 29 (Reuters) - Walgreens Boots Alliance Inc (WBA.O) is considering former Cigna Group (CI.N) executive Tim Wentworth to be its next chief executive, Bloomberg News reported on Friday, citing people familiar with the matter. The pharmacy giant has been searching for a new CEO after it announced the abrupt departure of Rosalind Brewer from the position earlier this month. A final decision has not been made and Wentworth may not wind up in the job, the report said. Wentworth was CEO of Cigna's Evernorth unit till he retired at the end of 2021. Reporting by Leroy Leo in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Tim Wentworth, Rosalind Brewer, Wentworth, Cigna's, Leroy Leo, Shinjini Organizations: Walgreens, Alliance, Cigna, Bloomberg, Thomson Locations: Bengaluru

☆ Insurers and drug-industry middlemen are cashing in on the weight-loss drug frenzy
▼ + stars: | 2023-09-28 | by ( ) www.businessinsider.com time to read: +5 min

Insurers and the drug-industry middlemen they own stand to earn more as healthcare spending increases. AdvertisementAdvertisementFor US health insurers, explosive demand for new weight-loss drugs likely means bigger profits. Insurers and the drug-industry middlemen they own stand to earn more as weight-loss drugs drive up healthcare spending, BofA analysts wrote. Meanwhile, if the drugs help people live longer, insurers could earn more from higher enrollment in their health plans. As weight-loss drugs drive up healthcare spending, insurers will make more moneyWeight-loss drugs, which can cost around $1,000 a month, are driving up healthcare spending.

Persons: Li Ran, Brian Evanko, Evernorth Organizations: Trilliant Health, Bank of America Global Research, Getty, Cigna, CVS Health, UnitedHealth Group, CVS, Kaiser Family Foundation Locations: Xinhua, GLP

☆ The CEO of Spora Health on fighting bias as a startup founder and his inspirations to improve healthcare for people of color
▼ + stars: | 2023-09-07 | by ( ) www.businessinsider.com time to read: +13 min

Dan Miller founded Spora Health in 2019 to deliver better healthcare to people of color. AdvertisementAdvertisementDan Miller founded the startup Spora Health in 2019 to provide better medical care to people of color. Most of Spora's healthcare providers are people of color, and all its clinicians are trained in health equity and cultural competence. How has your experience as a Black patient in the US healthcare system informed what you built at Spora? But I knew there was a lot of demand and interest from Black folks that I would meet in the community.

Persons: Dan Miller, Miller, I'd, He's, Spora, I've, they're, who's, you've Organizations: Spora Health, San Francisco Bay Area, Fortune, Bay Area Locations: San Francisco, San Francisco Bay, America, Bay, New York, Silicon, United States

☆ A former BlackRock stock chief shares 5 stocks and one area of the bond market he likes right now as growing recessionary pressures threaten to spoil the S&P 500's rally
▼ + stars: | 2023-08-16 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Bob Doll thinks a mild recession will hit the US economy sometime in the near-to-mid future. Outside of the stock market, Doll also thinks bonds are relatively attractive compared to last year. Within the bond market, he likes Treasurys most, with 10-year yields offering more than a 4% coupon. A 1.5% 10-year Treasury is a bad deal, and of course bonds have sold off hard," he said. Treasury bonds can be bought via a brokerage or through TreasuryDirect.

Persons: Bob Doll, Bob Doll isn't, Doll, Phillips, refiners Organizations: Conference, BlackRock, Valero, Aaa, Treasury Locations: HMOs, TreasuryDirect

REUTERS/Mike Blake/File Photo/File PhotoJune 14 (Reuters) - Health insurer stocks dropped sharply on Wednesday after UnitedHealth Group (UNH.N) said costs were on the rise for the largest U.S. healthcare provider by market value due to an increase in surgeries among older adults. Shares of industry bellwether UnitedHealth fell 7.3% to $455.11, wiping out roughly $42 billion from the company's market capitalization in the current trading session. Meanwhile, stocks of medical device makers and hospital operators rose, as increased frequency of surgeries mean more revenue for them. The company highlighted strong demand for hip and knee procedures at outpatient centers, as well as for home health services and behavioral services. Elevance Health (ELV.N), CVS Health Corp (CVS.N), Centene Corp (CNC.N) and Cigna Group (CI.N) fell between 6% and 7.5%.

Persons: Mike Blake, bellwether, UnitedHealth, Jefferies, Brian Tanquilut, Zimmer Biomet, Leroy Leo, Bhanvi, Manas Mishra, Shinjini Organizations: REUTERS, UnitedHealth, Medicare, Humana Inc, Reuters Graphics, Elevance, CVS Health Corp, Centene Corp, Cigna, Elevance Health Inc, CVS, Healthcare, Tenet Healthcare, Stryker, Thomson Locations: Santa Ana , California, U.S, Bengaluru

☆ These are the top 10 stocks held by 'Big Short' investor Michael Burry
▼ + stars: | 2023-05-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Michael Burry invested a lot of money into the stock market last quarter, according to 13F filings. The "Big Short" investor who has held a bearish tilt towards stocks initiated 17 new positions last quarter. These are the top 10 stocks held by Burry's Scion Asset Management as of March 31. Burry posted on Twitter on multiple occasions over the last few months that he had a bearish view on stocks. These are the top 10 stocks held by Burry's Scion Asset Management as of March 31.

☆ Cigna CEO David Cordani talks quarterly results with Jim Cramer
▼ + stars: | 2023-05-05 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Cigna CEO David Cordani talks quarterly results with Jim CramerCigna CEO David Cordani joins 'Mad Money' host Jim Cramer to talk Cigna's quarterly earnings results and political preassure on the healthcare sector.

☆ Stocks making the biggest moves premarket: Cigna, Apple, DraftKings, Lyft & more
▼ + stars: | 2023-05-05 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves premarket:Cigna — Cigna gained 3% in premarket trading after beating top- and bottom-line estimates for its latest quarter and raising its full-year forecast. Apple — Apple rose 2.7% in premarket trading after beating quarterly earnings and revenue estimates, with particularly upbeat results for its flagship iPhone. Bumble — Bumble posted higher than expected quarterly sales, as user demand for its dating app remained strong. Expedia did see its highest-ever first quarter revenue, in addition to a 20% leap in gross bookings. Coinbase — Coinbase posted better than expected quarterly results, leading to a 8.1% premarket rally for the cryptocurrency exchange's stock.

☆ Cigna beats quarterly profit expectations as COVID medical costs fall
▼ + stars: | 2023-02-03 | by ( Leroy Leo | ) www.reuters.com time to read: +2 min

[1/2] A screen displays the logo for Cigna Corp. on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 16, 2019. REUTERS/Brendan McDermid/File PhotoCompanies Cigna Corp FollowFeb 3 (Reuters) - Cigna Corp (CI.N) beat Wall Street estimates for quarterly profit on Friday, aided by a sharp fall in medical costs due to lower COVID-19-related hospitalizations. The company's annual profit forecast of at least $24.60 per share was marginally below expectations of $24.84 per share. The insurer forecast medical care ratio of 81.5% to 82.5% for 2023, compared with Wall Street estimate of 81.9%. Excluding one-off items, the company reported a profit of $4.96 per share in the fourth quarter, beating analysts' average estimate by 10 cents.

☆ 3 reasons a major health insurer just made a $2.7 billion bet on a Walgreens-backed effort to upend healthcare
▼ + stars: | 2022-11-21 | by ( ) www.businessinsider.com time to read: +3 min

The deal would give it a stake in VillageMD, an annual dividend, and a push toward value-based care. VillageMD said this week that it plans to merge with fellow primary-care provider Summit Health-CityMD in an $8.9 billion deal funded in part by the healthcare giant Cigna. VillageMD CEO Tim Barry Courtesy VillageMD3 reasons why Cigna's investing $2.7 billion in VillageMDEvanko said the investment provides financial and strategic benefits for Cigna. That stake would provide the healthcare company, which reported profits of $5.4 billion in 2021, with an annual dividend of about 5.5% on $2 billion of the $2.7 billion investment, Evanko said, according to a transcript from Sentieo. Evernorth could take what it learns from partnering with VillageMD and extend those capabilities to other healthcare providers it works with, he said.

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