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John R. Fischer, Senior Reporter | February 02, 2024
Talks between Signa and HCSC were
reported to be taking place in early January. A Blue Cross Blue Shield licensee, HCSC has over 27,000 employees who manage plans for more than 18.6 million members in Illinois, Montana, New Mexico, Oklahoma, and Texas.
Maurice Smith, HCSC's CEO, president, and vice chair, says the sale will aid its growth strategy in the Medicare marketplace and “bring many opportunities to HCSC and its members, including a wider range of product offerings, robust clinical programs, and a larger geographic reach.
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In addition to the sale, Cigna said its 2024 outlook for consolidated adjusted income from operations on a per share basis was at least $28 for the full year, and that it is aiming to grow its long-term annual adjusted earnings per share by 10% to 13%, while still maintaining an attractive dividend. It will disclose more details in its Q4 earnings report on February 2.
The transaction has no financing conditions but is subject to regulatory approvals and other customary closing conditions.
It is expected to be completed in the first quarter of 2025.
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