Home Health UnitedHealth-LHC Group merger ‘tentatively scheduled’

UnitedHealth-LHC Group merger ‘tentatively scheduled’


UnitedHealth Group is “tentatively scheduled” to close its $5.4 billion merger with LHC Group before the market opens on Feb.23, the home health provider reported to the Nasdaq Stock Market Thursday.

In anticipation of the deal finalizing, LHC Groups shares will stop trading when the market closes Feb. 22. The company will be delisted even if the transaction is incomplete because it has not held a shareholder meeting in a year, which is required to remain on the Nasdaq exchange, the company acknowledged in a filing to the Securities and Exchange Commission last month.

UnitedHealth Group and the Lafayette, Louisana-based provider are still awaiting word from the Federal Trade Commission. The FTC requested additional information about the deal in June, which led the companies to postpone closing until March. The companies announced the merger last March and initially expected it to close during the second half of 2022. LHC Group would be folded into UnitedHealth Group’s Optum subsidiary.

UnitedHealth Group, LHC Group and the FTC did not immediately respond to interview requests.

Health insurance companies have invested in home health providers as Medicare Advantage enrollment grows and carriers look to shift care to more cost-efficient settings.

CVS Health, parent company of the insurer Aetna, announced in September that it would spend nearly $8 billion to acquire Signify Health, a home health risk assessment and physician enablement company, and Humana completed its acquisition of Kindred at Home in 2021.



Source link

RELATED ARTICLES

Cisco Systems beefs up cybersecurity play with $28 billion Splunk deal

Cisco Systems has agreed to buy cybersecurity firm Splunk for about $28 billion in its biggest-ever deal to beef up its software business...

This $200 stick vacuum is just as good as a Dyson – and it has a mop

This cordless vacuum is surprisingly powerful. Jack Wallen/ZDNETMy wife and I have always been obsessed with cleaning. In fact,...

Most Popular

Cisco Systems beefs up cybersecurity play with $28 billion Splunk deal

Cisco Systems has agreed to buy cybersecurity firm Splunk for about $28 billion in its biggest-ever deal to beef up its software business...

This $200 stick vacuum is just as good as a Dyson – and it has a mop

This cordless vacuum is surprisingly powerful. Jack Wallen/ZDNETMy wife and I have always been obsessed with cleaning. In fact,...

Wilful defaulters must be identified within 6 months

The Reserve Bank of India (RBI) on Thursday said lenders would have to examine all aspects relating to wilful default on accounts with...

Recent Comments