BLOOMFIELD, Conn. & ST. LOUIS – Cigna has announced that it will acquire Express Scripts in a $67 billion agreement.
“Cigna’s acquisition of Express Scripts brings together two complementary customer-centric services companies, well-positioned to drive greater quality and affordability for customers,” said David Cordani, president and CEO of Cigna, in a statement. “This combination accelerates Cigna’s enterprise mission of improving the health, well-being and sense of security of those we serve, and in turn, expanding the breadth of services for our customers, partners, clients, health plans and communities.”
Under the agreement, the new company will offer a full suite of medical, health engagement, specialty pharmacy and behavioral services through online and other retail channels. The acquisition will also allow Cigna to leverage actionable insights and predictive analytics, maximize adoption of evidence-based care and deliver innovation and technology to support health care decisions.
“Together, our two organizations will help make the healthiest choices the easiest choices, putting health and pharmacy services within reach of everyone we serve,” said Tim Wentworth, president and CEO of Express Scripts, in a statement. “Adding our company’s leadership in pharmacy and medical benefit management, technology-powered clinical solutions and specialized patient care model to Cigna’s track record of delivering value through innovation, we are positioned to transform health care.”
The combined company will be led by Cordani as president and CEO, and Wentworth as president of Express Scripts. The combined company’s board will be expanded to 13 directors, including four independent members of the Express Scripts board.
The combined company will be named Cigna and will be headquartered in Bloomfield, Conn. Express Scripts will be headquartered in St. Louis.