CIGNA Acquires Great-West HealthCare

Skadden is representing CIGNA corporation in its approximately $1.5 billion acquisition of Great-West Healthcare, Inc., the health care division of Great-West Life & Annuity Insurance Company. CIGNA will pay $1.5 billion in cash and fund approximately $400 million of additional capital to support the acquired business. CIGNA Corporation is a provider of group health, accident, life and disability insurance. Great-West Healthcare's national health care network consists of some 4,275 hospitals and more than 575,000 physicians and ancillary providers.