08:51 AM EDT, 03/19/2025 (MT Newswires) -- Cigna Group ( CI ) said Wednesday it has completed the sale of its Medicare Advantage, Cigna Supplemental Benefits, Medicare Part D, and CareAllies businesses to Health Care Service Corp.

The proceeds will be used for capital deployment, with the majority expected to be allocated to share repurchases, Cigna ( CI ) said.

The healthcare insurance company said it will continue to deliver pharmacy benefits and other services to the Medicare businesses through its Evernorth Health Services company under previously signed agreements with Health Care Service for a specific post-closing period.

In January, Cigna ( CI ) said it had agreed to sell its Medicare businesses and CareAllies to Health Care Service for about $3.7 billion.