Cigna Agrees to Buy MDLive in Expansion of Telehealth Offering
(Bloomberg) -- Cigna Corp. has agreed to buy MDLive Inc., a closely held telehealth provider, to expand the health-care giant’s virtual care offerings, the companies said Friday.
The deal is expected to close in the second quarter of 2021, according to an emailed statement. No terms were disclosed.
MDLive offers virtual care to more than 60 million people through health plans, according to the company’s website. The acquisition comes as Covid-19 accelerated the adoption of telehealth.
MDLive had previously been planning to go public in early 2021, its chief executive officer told Stat in August. The company had raised almost $200 million in funding, according to Crunchbase. Cigna was an earlier investor, along with other health-care companies and venture capital firms. On closing, Cigna will own 100% of MDLive, the company said.
The acquisition is one of the first deals to expand the Evernorth health services division that Cigna formed last year. Evernorth also includes pharmacy benefit manager Express Scripts and other health services businesses.
Cigna affirmed its forecast for adjusted earnings-per-share above $20 this year, including the impact of the acquisition.
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