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New York City-based Memorial Sloan Kettering and Cigna signed a value-based agreement under which Memorial Sloan will share savings with Cigna if cost and quality targets are hit, according to Crain's New York Business.

Anthem's shares fell in premarket trading July 24 as the health insurer missed estimates on its medical cost ratio, which measures how much revenue goes toward members' medical claims, according to Barron's. 

Paula Steiner, president and CEO of Health Care Service Corp., will leave her position after leading the health insurer since 2016.

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