Cigna profit climbs 50% after Express Scripts deal

Morgan Haefner - Print  | 

Cigna saw its profits and revenues climb in the first quarter of this year, thanks in part to better results in its health services and integrated medical segments.

"Cigna's first quarter performance reflects focused execution of our proven growth strategy and positions us well to achieve our increased outlook for 2019," David Cordani, president and CEO of Cigna, said in a prepared statement. "Our combination with Express Scripts is fueling additional innovative programs for the benefit of our customers and patients, as we accelerate our efforts to improve the affordability of healthcare."

Cigna's revenue in the first three months of this year rose to $33.4 billion, up from $11.4 billion in the same period a year prior.

The health insurer ended the first quarter with $1.4 billion in profit, up nearly 50 percent from $915 million reported in the first quarter of last year.

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