March 8, 2018
Cigna Corporation and Express Scripts Holding Company today announced that they have entered into a definitive agreement. Cigna is to buy Express Scripts in a cash and stock deal valued at an estimated $67 billion.
The deal is expected to close by Dec. 31, 2018, and is subject to the approval of Cigna and Express Scripts shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals. Until the closing, Cigna and Express Scripts will continue to operate as independent companies.
What does this mean for our customers?
Blue Cross and Blue Shield of Louisiana and HMO Louisiana, Inc. expect business as usual for our customers whose benefits are administered by Express Scripts today. We will monitor this merger up to the closing date and will update our customers, brokers and providers on any changes that may affect them along the way.
In a message to our CEO Dr. Steve Udvarhelyi, Express Scripts CEO Timothy Wentworth assures us that, “While Express Scripts’ structure is changing, our guiding principles remain the same. We know that choice and competition are vital to a high-performing, private health care marketplace. We will be laser focused on your business and work with you to build solutions to help you win and grow.”
To read Cigna’s press release on the merger, click here.
Express Scripts is an independent company that serves as the pharmacy benefit manager for Blue Cross and Blue Shield of Louisiana and HMO Louisiana Inc.