The medical health insurance big Cigna mentioned on Thursday that it had agreed to purchase the pharmacy advantages supervisor Categorical Scripts for $67 billion in money and inventory, together with the idea of $15 billion in debt.
The transaction is the most recent deal within the well being care sector as insurers and others look to manage prices and stave off a attainable problem from Amazon. Amazon not too long ago teamed up with Berkshire Hathaway and JPMorgan Chase to kind an impartial well being care enterprise to serve the three firms’ workers and presumably revamp the trade.
The information comes just a little over a yr after a choose blocked a proposed $48 billion merger of Cigna and Anthem, one other main well being insurer. Individually, a choose additionally blocked a $37 billion deal between the well being insurers Aetna and Humana final yr.
“This mixture accelerates Cigna’s enterprise mission of bettering the well being, well-being and sense of safety of these we serve, and in flip, increasing the breadth of providers for our clients, companions, shoppers, well being plans and communities,” David Cordani, the Cigna president and chief govt, mentioned in a information launch.
Categorical Scripts, primarily based in St. Louis, provides providers to company-provided well being plans like negotiating drug costs and arranging residence supply of some prescriptions. The corporate reported income of $100.three billion in 2016 and employed about 25,000 folks.