CI - Cigna reorganizes brand portfolio under new holding company

Managed care provider Cigna Corporation ( NYSE: CI ) announced a major overhaul in its brand portfolio on Monday under a new holding company called The Cigna Group.

"Over the last several years, we've built a diverse portfolio of leading capabilities to serve more people across our businesses," Lou Aversano, Cigna's chief brand and marketing officer, remarked.

"Now, we are evolving our brand architecture to reflect how we are serving the breadth of our relationships today and into the future," Aversano added.

The company announced two other brand identities, Cigna Healthcare, and Evernorth Health Services, which will operate under The Cigna Group.

Cigna Healthcare is the health benefits provider of the Cigna Group, which serves the company's U.S. Commercial, U.S. Government, and International Health businesses.

Evernorth Health Services houses Cigna's pharmacy benefits manager Express Scripts and other units such as Express Scripts Pharmacy, Accredo specialty pharmacy, medical management operation eviCore, and MDLIVE telehealth company.

The announcement comes weeks after rival CVS Health Corporation ( CVS ) hired Amy Bricker, the former president of Cigna ( CI ), at its PBM unit Evernorth.

Read: Seeking Alpha contributor Samuel Petersson argued in January that Cigna ( CI ) "is well set up to tackle any potential obstacles ahead."

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