June 21, 2017 / 1:22 PM / a month ago

Cigna's 2017 growth may include Medicare Advantage acquisitions

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NEW YORK, June 21 (Reuters) - Cigna Corp Chief Executive David Cordani told investors on Wednesday that the company has $7 billion to $14 billion in capital that it could use in 2017 for mergers and acquisitions in several areas, including Medicare Advantage for older people.

Cordani, speaking during a meeting with investors, said the company would also do share buybacks and set a target of $16 in earnings per share for 2021.

He said M&A areas that the No. 5 health insurer is considering also include building out its pharmacy and physician-related businesses, its retail capabilities, and its government risk-based insurance programs. (Reporting by Caroline Humer; Editing by Nick Zieminski)

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