What did Cigna Corp. pay for Express Scripts Holding Company?

Cigna Corp. acquired Express Scripts Holding Company for $62.11B in 2018 (11.6x EBITDA), equivalent to 0.80x revenue. Target revenue was approximately $82953.0M. Target EBITDA was approximately $5346.0M.

What does Express Scripts Holding Company do?

Express Scripts Holding Company is a pharmacy business.

What multiple did Cigna Corp. pay for Express Scripts Holding Company?

11.6x EBITDA and 0.80x revenue, based on disclosed deal value of $62.11B and disclosed financials.

M&A TRANSACTION · 2018

Express Scripts Holding Company acquired by Cigna Corp.

$62.11B· 11.6x EBITDA· 0.80x revenue

Target

Express Scripts Holding Company

Acquirer

Cigna Corp.

Strategic buyer

Disclosed financials at time of acquisition

Revenue

$82953.0M

EBITDA

$5346.0M

Deal Value

$62.11B

EV/EBITDA

11.6x

Context

This $62.11B acquisition of Express Scripts Holding Company by Cigna Corp. sits in the pharmacy sub-vertical. The 11.6x EBITDA multiple paid in 2018 can be compared against the population median for pharmacy transactions of similar size on our Pharmacy valuation hub. Cigna Corp. is acquiring as a strategic buyer; see how strategic acquirers typically price pharmacy businesses on our Pharmacy strategic buyer-pool page.

Source

Data sourced from SEC filings and fairness opinions. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

Value your own pharmacy

Get an instant valuation range for your business. Backed by 25,592 real M&A transactions.

Compare your business to the Express Scripts Holding Company acquisition.

Citation: ExitValue.ai. (2018). Express Scripts Holding Company acquired by Cigna Corp.. https://exitvalue.ai/deals/express-scripts-holding-company-acquired-by-cigna-corp-hc-2018-0176