Evernorth

What Evernorth does

Evernorth Health Services, Inc. is a wholly-owned subsidiary of The Cigna Group (NYSE: CI), operating as an integrated health services platform that delivers pharmacy benefit management, specialty pharmacy, medical benefits management, and virtual care. Founded in 2019 and headquartered in St. Louis, Missouri, Evernorth aggregates legacy Cigna health services assets including Express Scripts (one of the largest U.S. PBMs, with a network of nearly 64,000 retail pharmacies and approximately $38 billion in annual client savings), Accredo Specialty Pharmacy (complex and chronic condition therapies, 600+ field nurses, condition-specific therapeutic resource centers), MD Live (24/7 virtual care to 60M+ members nationwide), EviCore (medical benefits management), and CuraScript SD (specialty pharmaceutical distribution). The company also operates Freedom Fertility, MyMatrixx (workers' compensation PBM), Inside Rx (discount prescription card), Evernorth Workplace Care, Evernorth Behavioral Care Group, Evernorth Oncology Benefit Services, and proprietary data platforms including the Evernorth Social Determinants Index (ESDI) and Health Connect 360 care coordination solution.

The platform operates a core-plus-modules architecture anchored by PBM and specialty pharmacy, with adjacent product lines addressing GLP-1 weight management (EncircleRx, $200/month patient cap), oncology, fertility (FamilyPath, TrumpRx partnership), behavioral health, and onsite workplace clinics. Technology capabilities include AI-assisted fraud/waste/abuse detection, predictive analytics over combined PBM and medical claims data, automated claims adjudication, and asynchronous telehealth (via the Bright.md acquisition integrated into MD Live). Evernorth serves health plans, employers (including self-insured plans), federal and state government programs (notably TRICARE Pharmacy Program), labor unions, hospitals and health systems, and consultants advising plan sponsors.

The business model is predominantly enterprise contracted services, with quote-based pricing negotiated against health plans, employers, and government agencies on annual or multi-year terms. Revenue streams include managed services contracts across PBM, specialty pharmacy, and medical benefits management, plus subscription and per-visit economics for virtual care (MD Live) and transaction-based pricing for retail pharmacy fills (Express Scripts Pharmacy averages $12.36 for a 30-day supply under member benefit designs). Customer acquisition runs through direct enterprise sales, channel partnerships (Amazon Pharmacy, Shields Health Solutions health system network, CuraScript SD distribution), and government program contracts. The 2024 combined Cigna Healthcare and Evernorth Health Services revenues were $247.1 billion, with The Cigna Group reporting $274.9 billion in 2025 total revenues.

Name

Evernorth

Legal name

Evernorth Health Services, Inc.

Website

https://evernorth.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Evernorth Health Services is the health services subsidiary of The Cigna Group, delivering pharmacy benefit management (Express Scripts), specialty pharmacy (Accredo), medical benefits management (EviCore), and 24/7 virtual care (MD Live) to health plans, employers, government programs, and health systems.

Ownership category

akta.pro rank

Product category

Pharmacy Benefit Management and Health Services

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Other Ambulatory Health Care Services (6219), Ambulatory Health Care Services (621)

SIC

Services-Health Services (8000), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Pharmacy Benefit Management (PBM) & Pharmacy Network Administration (HLAFALAI)

akta.pro secondary industries

Pharmacy Benefit Analytics, Reporting & Employer Consulting (HLAEAKAK), Specialty Pharmacy Benefit Management (Specialty PBM) (HLAEAKAE), Mail-Order Pharmacy & Home Delivery (HLAEAKAF), Formulary Management & Clinical Pharmacy Programs (HLAEAKAA), Pharmacy-Integrated Virtual Care & ePrescribing (Employer Benefit) (HLALADAH), Copay Assistance, Patient Support & Affordability Programs (HLAEAKAI)

Keywords

• Pharmacy benefit management
• Specialty pharmacy services
• Virtual care delivery
• Medical benefits management
• Health plan solutions

Headquarters

HQ city

St Louis

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Pharmacy Benefit Management (Express Scripts): Core PBM services including formulary management, network pharmacy access, rebate negotiation, and clinical programs that generate savings for health plans, employers, and government programs. Express Scripts saves approximately $38 billion annually for clients.
2. Specialty Pharmacy (Accredo): Specialty pharmacy services for complex and chronic conditions including oncology, hemophilia, PAH, and other rare diseases, providing medications and clinical support.
3. Medical Benefits Management (EviCore): Utilization management and benefits optimization services ensuring appropriate delivery of care at the right time.
4. Virtual Care (MD Live): Telehealth platform providing virtual consultations across primary care, behavioral health, and specialty care, generating revenue through per-visit and subscription-based arrangements with health plans.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels6 records

Core offering

Evernorth Health Services delivers pharmacy benefit management, specialty pharmacy, virtual care, and medical benefits management solutions to health plans, employers, government programs, hospitals, and health systems. Its offerings span Express Scripts PBM services, Accredo specialty pharmacy distribution for complex conditions, MD Live 24/7 telehealth, EviCore utilization management, and supporting data-driven care coordination and benefit design services.

Product overview

Evernorth Health Services is a health services company that operates as a platform-plus-modules architecture anchored by pharmacy benefit management (Express Scripts PBM and Express Scripts Pharmacy) and specialty pharmacy (Accredo), combined with virtual care (MD Live), medical benefits management (EviCore), and specialized health solutions. The portfolio includes core PBM services, specialty pharmacy distribution (CuraScript SD, Freedom Fertility), workers' compensation pharmacy (MyMatrixx), behavioral health services, oncology benefit management, fertility pharmacy services, workplace care clinics, and data-driven population health tools (Health Connect 360, Evernorth Research Institute). The company also offers GLP-1 management solutions (EncircleRx, EnReachRx), the Patient Assurance Program for diabetes medication affordability, and operates Inside Rx for discount prescriptions.

Differentiator

Problem solved

Functional benefit

Brands

• Evernorth Signature: Pharmacy benefit services offering new pharmacy benefits designed to benefit plan sponsors and members.
• Evernorth EncircleRx
• Evernorth Research Institute
• The Lab by Evernorth
• Evernorth Social Determinants Index (ESDI)

Products and services

• Express Scripts Pharmacy Benefit Services Pharmacy benefit management (PBM) services that deliver pharmacy benefits for health plans, employers, and government programs, including formulary management, rebate negotiation, and network pharmacy services across approximately 64,000 pharmacies.
• Express Scripts Pharmacy (Home Delivery) Home delivery pharmacy service providing specialized care through a smarter approach to pharmacy services, allowing members to receive medications at their door with 85%+ of members receiving medications within 7 days.
• Accredo Specialty Pharmacy Specialty pharmacy providing personalized care and support for patients with complex and chronic health conditions, featuring specialty-trained pharmacists, field nurses, and clinical care management programs.
• MD Live by Evernorth Leading 24/7 virtual care delivery platform offering convenient and affordable virtual healthcare services to over 60 million members nationwide, providing primary care, behavioral health, and specialty consultations.
• EviCore by Evernorth Medical benefits management (MBM) company committed to the right delivery of care at the right time, providing utilization management and benefits optimization services.
• CuraScript SD by Evernorth Integrated delivery solutions for safe, efficient distribution of specialty pharmaceuticals and medical supplies.
• MyMatrixx by Evernorth Full-service workers' compensation pharmacy benefit management company focused on patient advocacy.
• Freedom Fertility by Evernorth America's leading fertility pharmacy dedicated exclusively to supporting patients undergoing fertility treatment.
• Evernorth Workplace Care Onsite health clinics and workplace wellness services for employers, providing primary care, preventive care, acute care, chronic condition management, and occupational health services at worksites.
• Evernorth Behavioral Care Group Behavioral health services providing mental health support and treatment across the care continuum for health plan and employer clients.
• Inside Rx Prescription discount card program providing cost savings on medications for uninsured or underinsured individuals.
• Evernorth Signature Pharmacy Benefit Services New pharmacy benefit services providing greater plan predictability with a rebate-free model, including lower costs for brand-name drugs and support for local pharmacies.
• Evernorth Oncology Benefit Services End-to-end cancer care solution supporting employees and caregivers across the entire cancer journey within a single benefit experience.
• GLP-1 Weight Loss Medication Benefit Pharmacy benefit for FDA-approved GLP-1 weight loss medications (including Wegovy and Zepbound) that limits patient monthly out-of-pocket costs to no more than $200.
• FamilyPath Comprehensive fertility benefits solution helping employers manage fertility treatments and family-building benefits.
• Evernorth Federal Services (TRICARE Pharmacy Program) Administers the TRICARE Pharmacy Program for the U.S. military, providing pharmacy benefit services to active-duty service members, families, and TRICARE Prime Remote enrollees.

Quantifiable outcome

• Express Scripts saves approximately $38 billion annually for clients
• +7 more outcomes

Named customers5 records

Segments7 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability8 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• BrainsWayminorStrategic or Co-development Partner · 4 March 2026Evernorth Behavioral Health eliminated prior authorization requirements for Deep TMS treatment, removing administrative barriers to patient access forBrainsWay's FDA-cleared neurostimulation therapy covering 18 million lives across 12 states.
• TRICAREcoreStrategic or Co-development Partner · 28 February 2026Evernorth Federal Services, administrator of TRICARE Pharmacy Program, automatically waives pharmacy copayments for U.S.-based TRICARE Prime Remote family members. TRICARE Prime Remote supports active-duty service members and families living more than 50 miles from military hospitals and clinics.
• Direct ReliefcoreStrategic or Co-development Partner · 12 February 2026Evernorth Health Services partnered with Direct Relief to donate over 41,000 prescription medications for disaster response. The collaboration creates a scalable donation pathway enabling humanitarian organizations to source prescription medications directly from pharmacies, bridging the gap between unused supply and unmet medical need.
• CarepathRxcoreStrategic or Co-development Partner · 1 January 2025Cigna completed the acquisition of hospital pharmacy company CarepathRx, integrating it into Evernorth Health Services. The deal builds on a 2023 strategic partnership where Evernorth made a minority investment to expand pharmacy and infusion services for hospitals and health systems treating patients with chronic and complex conditions.
• Bright.mdcoreTechnology or Integration · 11 October 2023Evernorth Health Services acquired Bright.md to enhance its MDLIVE virtual care platform with asynchronous telehealth, triage, and care navigation services starting in 2024. The company plans to expand the use of Bright.md's technology for chronic disease management and wellness visits.
• Amazon PharmacycoreChannel Partner/ Reseller/ DistributorExpanded relationship with Amazon enables Express Scripts customers to view medication prices associated with their benefit, Amazon prescription discount card pricing, and Amazon Pharmacy retail price options. Plans can determine if claims purchased through Amazon discount card apply to deductibles.
• TrumpRxcoreStrategic or Co-development PartnerEvernorth partnered with TrumpRx to expand access to low-cost fertility treatments for American families. Freedom Fertility Pharmacy is a key partner in TrumpRx, having dispensed TrumpRx's first medication to a patient featured at the White House launch event.
• OUT Maine and The Trevor ProjectminorGTM or Marketing PartnerEvernorth partners with nonprofit organizations including OUT Maine and The Trevor Project to reduce health disparities for LGBTQ+ individuals through education, training, and support resources.
• NBA and WNBAminorStrategic or Co-development PartnerPartnership with NBA and WNBA based on shared values of collaboration, trust, and behind-the-scenes work supporting performance, resilience, and long-term well-being on and off the court.

Scale indicators14 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• Amwell: Amwell is a telehealth platform offering virtual care across urgent, behavioral, and specialty care, serving health plans and employers. It competes with MD Live in the payer-integrated virtual care market and is increasingly embedded into health system workflows.
• GoodRx: GoodRx operates a prescription pricing comparison and discount platform that competes with Evernorth's Inside Rx discount card program. Both target uninsured/underinsured consumers and are increasingly integrated into insured benefit designs — a space where they directly overlap.
• Amazon Pharmacy: Amazon Pharmacy is an emerging retail and discount pharmacy platform that competes with Express Scripts Pharmacy on home delivery and price transparency. It is also a channel partner for Evernorth, with both companies viewing each other as potential disruptors of traditional PBM economics.

Direct peers

• Teladoc Health: Teladoc is a leading direct-to-consumer and enterprise virtual care platform offering primary care, behavioral health, and specialty consultations. It competes directly with MD Live by Evernorth in the employer-sponsored and health plan telehealth market.
• Shields Health Solutions: Shields is a specialty pharmacy company partnering with 80+ health systems to operate in-hospital specialty pharmacies. Following Evernorth's $3.5B preferred stock investment and Sycamore Partners' acquisition from Walgreens, Shields operates as an embedded partner and partial competitor in specialty pharmacy.
• OptumRx (UnitedHealth Group): OptumRx is the PBM arm of UnitedHealth Group and the third member of the 'Big Three' PBMs alongside Express Scripts and Caremark. It offers formulary management, specialty pharmacy, and home delivery, and is deeply integrated with UnitedHealthcare's insurance and Optum's care delivery businesses.
• Humana Pharmacy Solutions: Humana's PBM division manages pharmacy benefits primarily for Humana's Medicare Advantage and commercial members, plus employer clients. It competes directly with Express Scripts in the senior-focused and employer-sponsored markets with comparable formulary and mail-order capabilities.
• CVS Health (Caremark): CVS Health's Caremark is the largest U.S. PBM and most direct competitor to Express Scripts, serving health plans and employers with formulary management, mail-order pharmacy, and integrated retail pharmacy (CVS stores). Like Evernorth, it operates a vertically integrated PBM/specialty pharmacy/benefits platform.

Broad incumbents

• McKesson: McKesson is the largest U.S. pharmaceutical distributor and competes with CuraScript SD in specialty pharmaceutical distribution. Both serve health systems, pharmacies, and specialty drug manufacturers with logistics and distribution scale.
• Walgreens Boots Alliance: Walgreens operates the largest U.S. retail pharmacy chain and previously owned Shields Health Solutions (in which Evernorth invested $3.5B). It competes with Express Scripts' pharmacy network and mail-order business while also being a customer/channel for PBM services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/evernorth
• Facebookfacebook.com/Evernorth
• LinkedInlinkedin.com/company/evernorth

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries12 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Evernorth