From Dow Jones & Company:

Cigna is in advanced talks to sell its Medicare business, Medicare Advantage, for between $3 billion and $4 billion to Health Care Service Corp.

This move marks a major shift for Cigna, which had been expanding its presence in the fast-growing Medicare sector.

The company had been running an auction for its Medicare business and is now in exclusive talks with Health Care Service Corp.

This potential sale signals a significant change in Cigna’s strategic direction in the health-insurance industry.



Read more: Cigna Nears Deal to Offload Medicare Business