Cigna’s Evernorth Invests $3.5B in Specialty Pharmacy Shields

Evernorth Health Services, a subsidiary of Cigna Group, is investing $3.5 billion in Shields Health Solutions, a specialty pharmacy company recently spun off from Walgreens and acquired by private equity firm Sycamore Partners. This preferred stock investment supports Shields as it operates independently, partnering with more than 80 health systems and 1,000 hospitals to develop and manage in-house specialty pharmacies. Evernorth, which already operates the specialty pharmacy Accredo, aims to expand its reach in specialty medication management and improve care continuity for patients with complex and chronic conditions. Despite the large investment, Cigna does not expect any material impact on its 2025 earnings guidance. The specialty pharmacy sector is rapidly growing due to increasing demand for complex, high-cost biotech medications, which are a significant driver of rising healthcare costs. Both companies emphasize their shared commitment to delivering exceptional care across healthcare settings.