Fairness opinions › Acquirers
Cigna: healthcare acquisitions with fairness opinions
2 public-company targets, 2011-2018, $66B combined enterprise value. The multiples Cigna paid and the banker analyses behind each target board's recommendation.
Deals
2
Median EV / EBITDA paid
9.3x
Median EV / revenue paid
0.73x
| Announced | Target | Acquirer | Segment | EV | EV/EBITDA | EV/Rev | DCF rate | Fairness opinion |
|---|---|---|---|---|---|---|---|---|
| 2018-03-08 | Express Scripts Holding | Cigna | Managed Care | $62B | 11.6x | 0.75x | 8.0%–9.5% | Centerview Partners, Lazard |
| 2011-10-24 | HealthSpring | Cigna | Managed Care | $3.8B | 7.0x | 0.71x | 10.0%–12.0% | Goldman Sachs |