BLOOMFIELD, Conn. & SANTA MONICA, Calif., 14 December, 2017 - Cigna (NYSE: CI) today announced that it has acquired Brighter Inc.
Brighter has emerged as one of health care’s most innovative technology companies working with leading health service and dental organizations to engage patients and providers in personalized and seamlessly integrated experiences to more efficiently deliver higher-value healthcare.
The acquisition will build upon the already successful relationship between Cigna and Brighter by accelerating the development of Cigna’s mobile and desktop platforms and creating new end-to-end experiences that connect health consumers and providers with the guidance, support, and incentives they need to increase quality of care and maximize cost-savings.
With an experienced team led by co-founders Jake Winebaum and Jason Szczuka, Brighter will provide Cigna the technology, consumer expertise, innovation and speed-to-market capabilities necessary for the ongoing and critical digital transformation of health plans to enable:
- Consumers to more regularly and confidently engage with the plans, providers and wellness programs that are best able to improve their health while reducing costs;
- Providers to more cost-efficiently provide their high-quality services by leveraging reduced marketing, administrative and patient-engagement expenses; and,
- Employer plan sponsors to quickly enjoy population health management wins and data-driven recommendations for ongoing improvements.
“We’re committed to delivering superior experiences that better connect consumers with high-quality healthcare providers and wellness programs,” said David M. Cordani, President and Chief Executive Officer at Cigna. “The acquisition of Brighter accelerates our progress towards these priorities and in establishing us as the leader in the digital transformation of our industry.”
Cigna will integrate Brighter’s digital health plan platform capabilities as it continuously develops and releases new end-to-end digital experiences that are designed to create deeper and more successful relationships amongst consumers, provider partners and health service organizations.
“When we started Brighter, we set out to use technology and consumerism to improve the health insurance experience and reduce unnecessary costs,” Winebaum said. “Our experience with Cigna as a partner over the past two years has proven that those goals can be accomplished. I am extremely excited to now be joining Cigna to further the realization of our shared mission. By combining Cigna’s expertise, ambition and scale with Brighter’s team and technology, we look forward to delivering innovative new solutions for Cigna’s customers and providers.”
Brighter will continue as a market-facing, client-focused organization serving the digital health needs of its current and prospective customers, as well as become the digital health engine for Cigna markets and segments.
The acquisition is consistent with Cigna’s strategy of deploying capital toward opportunities that enhance the company’s ability to create value for customers and provider partners in an increasingly dynamic marketplace, and is an example of ongoing investment in innovative and disruptive business opportunities.
Cigna Corporation (NYSE: CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company, Connecticut General Life Insurance Company, Life Insurance Company of North America and Cigna Life Insurance Company of New York. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance. Cigna maintains sales capability in 30 countries and jurisdictions, and has more than 95 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.
Brighter licenses its innovative SaaS digital health plan platform and engagement services to leading health services organizations helping them deliver best-in-class products to their customers and greater opportunities for their participating providers. Recognized as the nation’s 4th fastest growing healthcare software company on Deloitte’s 2017 Technology Fast 500™, Brighter was founded by Internet entrepreneur Jake Winebaum and co-founder Jason Szczuka and is backed by some of the world's most respected investors, including Mayfield Fund, Benchmark, Tenaya Capital and General Catalyst.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release, and oral statements made with respect to information contained in this release, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on Cigna's current expectations and projections about future trends, events and uncertainties. These statements are not historical facts. Forward-looking statements may include, among others, statements concerning future financial or operating performance, including our ability to deliver personalized and innovative solutions for our customers and clients; future growth, business strategy, strategic or operational initiatives; economic, regulatory or competitive environments, particularly with respect to the pace and extent of change in these areas; financing or capital deployment plans and amounts available for future deployment; our prospects for growth in the coming years; and other statements regarding Cigna's future beliefs, expectations, plans, intentions, financial condition or performance. You may identify forward-looking statements by the use of words such as "believe," "expect," "plan," "intend," "anticipate," "estimate," "predict," "potential," "may," "should," "will" or other words or expressions of similar meaning, although not all forward-looking statements contain such terms.
Forward-looking statements are subject to risks and uncertainties, both known and unknown, that could cause actual results to differ materially from those expressed or implied in forward-looking statements. Such risks and uncertainties include, but are not limited to: our ability to identify potential strategic acquisitions or transactions and realize the expected benefits of such transactions, including with respect to the acquisition of Brighter, Inc.; our ability to achieve our financial, strategic and operational plans or initiatives; our ability to predict and manage medical costs and price effectively and develop and maintain good relationships with physicians, hospitals and other health care providers; the impact of modifications to our operations and processes, including those in our disability business; the substantial level of government regulation over our business and the potential effects of new laws or regulations or changes in existing laws or regulations; the outcome of litigation, regulatory audits, investigations, actions and/or guaranty fund assessments; uncertainties surrounding participation in government-sponsored programs such as Medicare; the effectiveness and security of our information technology and other business systems; unfavorable industry, economic or political conditions including foreign currency movements; acts of war, terrorism, natural disasters or pandemics; uncertainty as to the outcome of the litigation between Cigna and Anthem, Inc. with respect to the termination of the merger agreement, the reverse termination fee and/or contract and non-contract damages for claims each party has filed against the other, including the risk that a court finds that Cigna has not complied with its obligations under the merger agreement, is not entitled to receive the reverse termination fee or is liable for breach of the merger agreement; as well as more specific risks and uncertainties discussed in our most recent report on Form 10-K and subsequent reports on Forms 10-Q and 8-K available on the Investor Relations section of www.cigna.com. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made, are not guarantees of future performance or results, and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Cigna undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by law.