By Shelby Livingston | September
17, 2018
The U.S. Justice Department
has approved the proposed $67 billion merger between health insurer Cigna Corp.
and pharmacy benefit manager Express Scripts, the companies announced Monday.
Cigna and Express Scripts still must secure certain state regulatory approvals to complete the deal, which was first announced in March, but the nod from the federal antitrust enforcers takes care of the biggest hurdle. The companies expect to close the deal by year-end.
"We are pleased that the Department of Justice has cleared our transaction and that we are another step closer to completing our merger and delivering greater affordability, choice and predictability to our customers and clients as a combined company," Cigna President and CEO David Cordani said in a statement. "The value that we deliver together will help put our society on a far more sustainable path—one that helps healthcare professionals close gaps in care and supports our customers along their health journey."
Story developing …
Cigna and Express Scripts still must secure certain state regulatory approvals to complete the deal, which was first announced in March, but the nod from the federal antitrust enforcers takes care of the biggest hurdle. The companies expect to close the deal by year-end.
"We are pleased that the Department of Justice has cleared our transaction and that we are another step closer to completing our merger and delivering greater affordability, choice and predictability to our customers and clients as a combined company," Cigna President and CEO David Cordani said in a statement. "The value that we deliver together will help put our society on a far more sustainable path—one that helps healthcare professionals close gaps in care and supports our customers along their health journey."
Story developing …
Shelby
Livingston is an insurance reporter. Before joining Modern Healthcare in 2016,
she covered employee benefits at Business Insurance magazine. She has a
master’s degree in journalism from Northwestern University’s Medill School of
Journalism and a bachelor’s in English from Clemson University.
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