Cigna sells Medicare businesses to HCSC for $3.7B; expects Q1 2025 close, accretive to adjusted EPS

Cigna Group

Total transaction value ~$3.7B; includes Medicare Advantage, Supplemental Benefits, Part D, and CareAllies.
Expected to close in Q1 2025, subject to regulatory approvals; no financing condition.
Cigna expects to recognize a pre-tax loss of ~$1.5B in net income as of Dec 31, 2023, primarily from asset write-offs and costs to sell; does not affect adjusted income.
Transaction expected to be accretive to adjusted EPS in 2025; reaffirms 2024 adj. EPS target of at least $28 and 10-13% long-term annual growth.
Proceeds primarily allocated to share repurchases; four-year services agreement for Evernorth to continue providing PBM services.

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