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US$13 bil merger timeline amended

US$13 bil merger timeline amended
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ACCORDING TO Change Healthcare’s Nov 3 earnings statement, UnitedHealth Group and Change Healthcare have changed the timeline of their US$13 billion merger agreement.

Change and UnitedHealth agreed on Nov 1 not to complete their merger until Feb 22, 2022, unless they receive formal notice from the Department of Justice before the DOJ’s inquiry is completed.

The transaction is also subject to the DOJ’s potential inability to obtain certain requested data.

Change’s data analytics skills would be combined with UnitedHealth’s OptumInsight. Certain groups, like the American Hospital Association (AHA), have objected to the deal, claiming that it will decrease competition in selling healthcare information technology services to hospitals and other healthcare providers.

After receiving a letter from the AHA, the DOJ requested additional information from both Change and UnitedHealth Group. According to Change’s earnings statement, both Change and UnitedHealth Group have certified substantial compliance with the second request for information.

The business stated: “The parties have been cooperating with the DOJ and will continue to do so.”

OptumInsight and Change Healthcare announced their intention to merge on Jan 5.

Under the terms of the deal, UnitedHealth Group would buy all of the outstanding shares of Change Healthcare common stock for US$25.75 in cash through a wholly owned subsidiary.

Following the DOJ’s investigation of the merger, Change and UnitedHealth Group received a request for additional information and documentary evidence on March 24.

On Aug 7, the firms reached a timetable agreed with the DOJ, agreeing not to complete the merger 120 days after both parties certified substantial compliance with the DOJ’s second request. — The Health

Tags: Foreign NewsThe Health Nov/DectheHealth
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