California regulator blesses Cigna - Express Scripts tie-up

|About: Cigna Corporation (CI)|By:, SA News Editor

California Department of Managed Health Care Director Shelley Rouillard has approved Cigna's (CI +0.9%) planned merger with Express Scripts (ESRX +1.3%).

The regulator's blessing was conditional on the companies' agreement not to increase premiums as a result of acquisition costs and to keep premium rate increases to a minimum. In addition, both firms have agreed to invest $60M in California's healthcare system.

Subscribe for full text news in your inbox