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The Cigna Group (NYSE: CI) is a global health services company dedicated to improving health outcomes and providing comprehensive healthcare solutions. The company operates primarily through two platforms: Evernorth Health Services and Cigna Healthcare. Cigna offers a diverse portfolio of pharmacy, medical, behavioral, dental, and supplemental products and services.
Pharmacy Benefit Management (PBM) and Health Insurance: Cigna's PBM services experienced significant growth following its 2018 merger with Express Scripts. The company's PBM and specialty pharmacy services are primarily sold to health insurance plans and employers, with notable contracts including the Department of Defense and insurer Centene. Cigna serves 18 million U.S. medical members as of December 2023, focusing on self-funded employer arrangements.
Recent Achievements: In 2024, Cigna repurchased $3.2 billion of common stock through accelerated stock repurchase agreements, reflecting strong business growth and commitment to shareholder value. The company is also addressing chronic conditions by introducing innovative solutions like EncircleRx, which offers financial guarantees for managing the cost of GLP-1s.
Partnerships and Community Engagement: Cigna partners with various organizations to enhance community health. This includes sponsoring the NFL's Vincent Country Safe Zone Activity Day, providing essential health screenings and eye exams for students, and participating in behavioral health initiatives through Evernorth Behavioral Care Group.
Financial Performance: Cigna reported strong first-quarter 2024 results, with adjusted income from operations of $1.9 billion, reflecting growth across its Evernorth and Cigna Healthcare businesses. The company also announced pricing terms for tender offers to manage its senior notes, aiming for significant savings for both patients and health plans through biosimilar initiatives.
Future Outlook: As of 2024, Cigna aims to achieve an adjusted EPS growth target of 10%-14% and has reaffirmed its 2024 adjusted EPS guidance of at least $28.25. The company continues to innovate and expand its healthcare offerings, focusing on affordability, access, and improved clinical outcomes.
Cigna Corporation (NYSE: CI) has launched a new provider consult service to enhance health outcomes for patients with complex cancers. This service leverages Cigna's Evernorth health services to connect patients and community oncologists with experts from National Cancer Institute designated centers. In pilot results, 40% of patients received beneficial treatment recommendations based on updated research. The initiative aims to improve patient care, showcasing Cigna's integrated oncology solutions that support patients throughout their cancer journey.
Cigna Corporation (NYSE: CI) declared a cash dividend of $1.12 per share of common stock, scheduled for payment on June 23, 2022. Shareholders of record will be confirmed as of the close of business on June 8, 2022. This move reflects Cigna's commitment to returning value to its shareholders, maintaining strong financial health and operational stability.
Cigna Corporation (NYSE:CI) announced that CFO Brian Evanko will present at the BofA Securities 2022 Healthcare Conference on May 11, 2022, at approximately 1:40 p.m. ET in Las Vegas. A live webcast of the presentation will be available on Cigna's investor relations website. Cigna, a global health services company, aims to enhance health and well-being through comprehensive healthcare solutions and maintains a strong international presence with over 185 million customer relationships across more than 30 countries.
Evernorth, a health services subsidiary of Cigna, and Kaiser Permanente announce a five-year collaboration aimed at enhancing access to affordable, high-quality healthcare for Kaiser members. Effective immediately, the partnership allows Kaiser members traveling outside service areas to utilize Cigna's extensive PPO provider network, improving access to urgent and emergency care. Moreover, Evernorth's Accredo specialty pharmacy will become Kaiser’s preferred external pharmacy, promising savings and enhanced services for specialty drug needs.
The Cigna Corporation (NYSE: CI) will announce its first quarter 2022 financial results on May 6, 2022, at 6:30 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss these results, with call-in numbers provided for domestic and international participants. A replay of the call will be available starting at 12:30 p.m. ET the same day until 11:59 p.m. ET on May 20, 2022. The financial details will also be accessible via the Investor Relations section of Cigna's website.
Cigna Corporation (NYSE:CI) will host its Investor Day on June 3, 2022, in New York City. The event will run from 8:30 a.m. ET to 1:30 p.m. ET, featuring in-depth presentations on corporate strategy and financial targets. A live webcast will be available on Cigna's Investor Relations website, with a replay accessible for four weeks post-event. Cigna is dedicated to enhancing the health and well-being of individuals through integrated health services.
Cigna Corporation (NYSE: CI) announced a strategic plan for capital deployment aimed at enhancing shareholder value, projecting over $12 billion in deployable capital for 2022. This includes $5.4 billion from the sale of its international insurance businesses. The Board approved a $6 billion increase in share repurchase authorization, bringing the total to $10 billion. Cigna plans to allocate more than $7 billion for share repurchases this year, reinforcing confidence in its growth prospects while also approving $450 million for Cigna Ventures to support innovation.
Cigna Corporation (NYSE:CI) announced that CFO Brian Evanko will present at the Barclays Global Healthcare Conference on March 16, 2022, in Miami, FL. The presentation is set to begin at approximately 1:35 p.m. ET. A live webcast will be available on Cigna's investor relations page. Cigna aims to enhance health services globally, maintaining over 185 million customer relationships across more than 30 countries.
Cigna Corporation (NYSE: CI) announced the retirement of John Murabito, long-serving Chief Human Resources Officer and Chief Administrative Officer, effective April 1. Cynthia Ryan, who has been with Cigna for 23 years, has been appointed as the new CHRO. Murabito's leadership was pivotal in developing a strong HR team to support Cigna's 70,000 employees globally. Ryan, a seasoned HR professional, aims to strengthen employee engagement and talent management. This leadership transition is seen as a crucial step in adapting to a changing talent landscape, enhancing Cigna's strategic growth initiatives.
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