As the nation's largest insurers have evolved, several Blue Cross Blue Shield companies are following suit and becoming providers as well.
M&A
Cigna's plan to sell its Medicare business to Health Care Service Corp. is clearing a path for future mergers and acquisitions, according to S&P analysts.
The Cigna Group reached a deal to sell its Medicare business to Health Care Service Corp. for $3.3 billion.
After a called-off merger between Humana and Cigna, executives at both companies say they are focused on staying on their existing courses.
Cigna's Evernorth has sold seven outpatient imaging centers in Phoenix to diagnostic imaging provider RadNet for an undisclosed amount.
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Blue Cross and Blue Shield of North Carolina has purchased all North Carolina locations of FastMed, a national chain of urgent care clinics.
Centene has completed the sale of Circle Health Group, one of the U.K.'s largest independent hospital operators, to Pure Health.
As more payers scoop up providers, the Cigna Group prefers to partner with provider groups, rather than own them outright, Eric Palmer, CEO of Evernorth, Cigna's healthcare services arm, said.
The new year has just begun, but already a significant payer transaction reportedly is in the works.
Elevance Health plans to acquire Paragon Healthcare, which operates infusion centers and specialty pharmacies.