Davis Polk is advising Cigna Corporation in connection with its approximately $3.8 billion acquisition of HealthSpring, Inc. The agreement has been approved by the boards of directors of both companies and is subject to required regulatory approvals and customary closing conditions. The transaction is expected to close during the first half of 2012 and is not subject to a financing condition.

Cigna is a global health service company dedicated to helping people improve their health, well-being and sense of security. HealthSpring is based in Nashville, Tennessee, and is one of the country’s largest Medicare Advantage coordinated care plans. 

The Davis Polk team includes partners Phillip R. Mills and Michael Davis and associates James E. Elworth and Brian L. Friedman. Partner Jean M. McLoughlin and associate Gillian Emmett Moldowan are providing employee benefits advice. Partners Lawrence E. Wieman and Joseph P. Hadley are providing credit advice. Partner Deanna L. Kirkpatrick and associate Michael Segall are providing capital markets advice. Partner Kathleen L. Ferrell and associate Anthony L. Oliva are providing tax advice. All members of the Davis Polk team are based in the New York office.