Here are 11 Cigna updates reported by Becker's since Dec. 7:
- Cigna Ventures and 7wireVentures led a $34 million funding round for NOCD, a virtual mental health treatment provider specializing in obsessive-compulsive disorder.
- Proposed Medicare Advantage plan rates introduced by CMS could have some effects on revenue, but it is too early to see the full scope, Cigna CEO David Cordani told investors. Here are more details from the company call.
- Cigna beat investor expectations and reported $1.2 billion in profit for the fourth quarter, according to its year-end earnings. A breakdown of the company's year-end earnings report can be found here.
- Cigna sued former executive Amy Bricker and CVS, alleging her departure to the rival violated a noncompete agreement, according to a federal lawsuit. Here is what to know about the allegations.
- Adam Kautzner, PharmD, was promoted to president of Express Scripts, a division of Evernorth, Cigna's health services business. Also, the company's headquarters in St. Louis (Mo.) County was sold to Colorado-based Arsenault Holdings for $36 million.
- Cigna's top lawyer, Julia Brncic, left the company to become general counsel at EverQuote, an online insurance marketplace.
- Cigna's venture capital arm participated in a $375 million funding round for Monogram Health, an in-home healthcare company specializing in providing care and benefit management services to patients with polychronic conditions.
- Wells Fargo analysts downgraded Cigna from "overweight" to "equal weight" rating, favoring the payer's competitors. Here's why.
- Medicare Advantage plan Cigna HealthSpring of Tennessee received $5.9 million in overpayments from the federal government in 2016 and 2017, according to an HHS inspector general's office audit. More about the investigation can be found here.
- Pharmacist organizations scolded Cigna and Express Scripts for plans to drop 15,000 pharmacies from their 2023 Tricare networks, which could affect more than 400,000 people in the Defense Department's health plan. Here is an explanation of the organizations' rationale.