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Cigna negotiates acquisition terms with HealthSpring

Business negotiations have been used by Cigna to agree a deal to take over HealthSpring.

25 October 2011

Cigna Corporation has successfully used a range of negotiation techniques to complete a deal for HealthSpring.

The former - which is a heath insurance company that had $21.3 billion in revenue in 2010 - will pay approximately $3.8 billion (£2.4 billion) for the latter.

It is hoped the transaction will allow Cigna to pursue an expanded consumer strategy in the Seniors and Medicare segments, which are both high growth areas.

Because of this, merger and acquisition consultants were called in to ensure the process reached a resolution for both parties.

David Cordani, president and chief executive officer of Cigna, stated that the two companies are a "great fit".

"[We] share a common strategic vision and philosophy that we create customer value by partnering with health care professionals," he added.

Under the terms of the agreement, Cigna clients now get the opportunity to use the differentiated physician coordination model from HealthSpring.

Posted by Edel Quinn

Source: Cigna press release, October 24th

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