Cigna’s Evernorth is investing $3.5 billion in Shields Health Solutions, a specialty pharmacy company launched after Walgreens went private in August.
Evernorth’s investment in Shields is in the form of preferred stock and is not expected to have a major impact on Cigna’s 2025 adjusted earnings guidance of at least $29.60 per share, according to a Sept. 2 news release.
Walgreens Boots Alliance went private in late August following its acquisition by New York City-based private equity firm Sycamore Partners. Walgreens will now operate as five standalone companies: Walgreens, The Boots Group, Shields Health Solutions, CareCentrix and VillageMD, where Cigna owns a minority stake. Each will continue to function independently, with Sycamore aiming to preserve their existing brands and customer relationships.
Shields helps hospitals develop and manage their own specialty pharmacies. The company is partnered with more than 80 health systems and clinics across nearly all 50 states.
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