1. Cigna’s health services arm Evernorth will be a minority owner in VillageMD after it invested in the primary care disruptor’s Nov. 7 acquisition of Summit Health. Evernorth said its collaboration with VillageMD is part of its effort to accelerate value-based services that “deepen relationships with high-performing primary care physicians and specialists to improve outcomes and lower costs.”
2. Centene awarded its pharmaceutical benefit management contract to Cigna’s Express Scripts on Oct. 25. Starting in 2024, Express Scripts will manage prescriptions for Centene’s 20 million plan members.
3. The Justice Department sued Cigna Oct. 17 for allegedly making its Medicare Advantage members appear sicker than they were by submitting false diagnosis codes to the government in order to receive higher reimbursement rates.
4. The American Medical Association, the Medical Society of New Jersey and the Washington State Medical Association joined a class-action lawsuit against Cigna Sept. 12 for allegedly failing to pay medical claims in full after members submitted them through MultiPlan, the nation’s largest PPO network.
5. Cigna on July 1 completed the sale of its international insurance businesses in six Asia Pacific markets to the world’s largest property and casualty insurer, Chubb, in a $5.4 billion deal, with a majority of the proceeds going toward a stock buyback.
6. A Delaware judge dismissed a lawsuit from Cigna shareholders April 7 that claimed executives with the company fumbled a $1.85 billion termination fee following the failed $54 billion merger with Anthem in 2017.
7. Tenet Healthcare and 19 of its hospitals sued Cigna in March, accusing the insurer of reimbursing claims at low rates and wrongfully denying claims for emergency care.
8. Cigna discussed a potential acquisition of Centene in the final months of 2021, but nothing came of the preliminary conversations, Bloomberg reported Jan. 26.
