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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) announces Ralph Giacobbe as the new Senior Vice President and Head of Investor Relations, effective January 2022. Giacobbe, with over 20 years in the health care sector, brings a wealth of experience from Citigroup, where he led U.S. Health Care research. Cigna's CFO, Brian Evanko, expressed confidence in Giacobbe's ability to enhance the company's strategy and growth momentum. Giacobbe has a longstanding familiarity with Cigna, having covered the company for about a decade, and is poised to contribute significantly to the company's transformation efforts.
Cigna Corporation (NYSE: CI) announced strong third-quarter results with total revenues of $44.3 billion and a net income of $1.6 billion ($4.80 per share), reflecting growth across all business segments. Adjusted income from operations increased to $1.9 billion ($5.73 per share). For 2021, Cigna projects adjusted income from operations to reach at least $20.35 per share. The company is focused on growth strategies and innovation, with a notable increase in customer relationships, including a pharmacy customer base of 103.6 million.
Cigna Corporation (NYSE: CI) announced that CFO Brian Evanko will present at the Wolfe Research Virtual Healthcare Conference on November 18, 2021, starting at approximately 11:35 a.m. ET. This presentation will be available live via webcast to investors and the public on the company's website. Cigna is a global health service company focused on providing access to integrated health solutions.
Cigna Corporation (NYSE: CI) has declared a cash dividend of $1.00 per share of common stock. This dividend is payable on December 22, 2021 to shareholders of record as of the close of business on December 7, 2021. The announcement reflects Cigna's commitment to returning value to shareholders while maintaining a strong cash position.
Cigna Health Plan announced on October 26, 2021, a significant expansion of access to virtual care services through its acquisition of MDLIVE. Starting January 2022, all employer-sponsored plan customers will have access to MDLIVE's network for various virtual care services, enhancing the patient experience. The integrated services include primary, dermatology, behavioral, and urgent care, with MDLIVE providers gaining secure access to patient health information. Cigna also plans to introduce $0 copay virtual-first health plans, making healthcare more accessible.
Cigna Corporation has expanded its Medicare Advantage network by incorporating Iora Primary Care providers in Maricopa County, Arizona, effective immediately. This addition allows customers in all Cigna MA plans to access Iora's 12 practices, enhancing care for adults over 65. Cigna has increased its provider network by over 25% in the last 18 months, with more than 80% of members in value-based care arrangements. Iora Health's focus on comprehensive care aligns with Cigna's goal of improving health outcomes and customer satisfaction.
Cigna Corporation (NYSE:CI) announced that CFO Brian Evanko will present at the Credit Suisse 30th Annual Healthcare Conference on November 9, 2021, via a virtual webcast. The presentation is set to begin at 8:50 a.m. ET, and participants can access it through Cigna's investor relations page. Cigna is dedicated to improving healthcare access and affordability through a range of integrated services and operates in over 30 countries, serving 190 million customer relationships worldwide.
Cigna is expanding its Medicare business into Portland, offering Medicare Advantage (MA) plans in Clackamas, Multnomah, Washington counties in Oregon, and Clark County in Washington. These plans include benefits like vision, dental, and hearing coverage, available at a $0 premium. The HMO plan features unique support for daily living activities, while the PPO provides out-of-network services at higher costs. Enrollment starts during the Annual Election Period from Oct. 15 to Dec. 7, effective Jan. 1, 2022.
Cigna Corporation (NYSE: CI) will announce its third quarter 2021 financial results on November 4, 2021, at 6:30 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss these results. Participants are encouraged to call in by 8:15 a.m. ET. The call will be accessible via a live Internet webcast and will also be available for replay. Cigna continues to enhance its healthcare services and maintain a global presence with over 190 million customer relationships.
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