Home Uncategorized UnitedHealth’s Optum to buy LHC Group for $5.4 billion

UnitedHealth’s Optum to buy LHC Group for $5.4 billion

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UnitedHealth’s Optum to buy LHC Group for $5.4 billion

UnitedHealth Group’s Optum announced Tuesday it plans to purchase in-home healthcare provider LHC Group for an estimated $5.4 billion,

The deal is expected to close in the second half of 2022, a news release said.

“Working together as organizations committed to caring for the most vulnerable in society will help us more effectively and efficiently deliver high quality and increasingly value-based care in the home,” LHC Group Chairman and CEO Keith Myers said in a news release.

LHC Group leadership will remain on after the acquisition. Co-founders Keith and Ginger Myers will also invest $10 million in UnitedHealth Group stock.

The combination of Lafayette, Louisiana-based LHC Group and Eden Prairie, Minnesota-based Optum, which works with more than 100 health plans, will better allow the companies “to deliver integrated care, improving outcomes and patient experiences,” the news release said . LHC has 964 locations in 37 states.

“LHC Group’s sophisticated care coordination capabilities and its warm, human touch is so important for home care and will greatly enhance the reach of Optum’s value-based capabilities along the full continuum of care, including primary care, home and community care, virtual care, behavioral health and ambulatory surgery,” Optum CEO Dr. Wyatt Decker said in a news release.

Optum was expected to close a $13 billion acquisition of health IT company Change Healthcare in February but was blocked by the US Department of Justice over concerns about health insurance market competition. Optum has challenged the,

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