Cigna Abandons Humana Merger in Favor of Smaller Acquisitions and $10 Billion Stock Buyback

CEO David Cordani announces a shift in strategy, with potential divestment of Medicare Advantage business and growth of Evernorth on the horizon.

Cigna has abandoned its plans to merge with Humana, a deal that could have resulted in a $140 billion healthcare conglomerate.
Cigna's CEO, David Cordani, stated that the company will now focus on smaller, 'bolt-on' acquisitions and value-enhancing divestitures.
Cigna plans to buy back an additional $10 billion in shares, bringing its total planned repurchases to $11.3 billion.
There has been speculation that Cigna may divest its Medicare Advantage business, which is much smaller than its rivals'.
Cigna's health services business, Evernorth, could potentially target doctor practices or other companies to bolster its business.