UnitedHealth Group (Uhh) – Get Report Agreed to buy change healthcare (CHNG) – Get Report In a deal that values a healthcare technology company worth over $ 13 billion.
UnitedHealth will pay $ 25.75 a share in cash, the companies said in a joint statement, a 41% premium on Tuesday to $ 41.2 on Healthcare’s closing price. Change Healthcare’s debt includes more than $ 5 billion in a $ 13 billion valuation.
Shares of Change Healthcare were up 31.72% at $ 24.02 in Wednesday trading. UnitedHealth’s stock rose 0.6% to $ 346.67.
The deal will connect Change Healthcare with United Health’s Optuminite unit to offer software, data analytics, technology and other services to the healthcare industry, the companies said, adding that this combination around medical care to improve health outcomes and lower costs Will help simplify the services.
“We will work together to provide insight into the critical clinical, administrative and payment processes on which healthcare providers and payers prefer to serve patients,” said Andrew Witty, president of UnitedThel Group and CEO of Optum.
The deal is expected to close in the second half of 2021. Private-equity funds associated with the Blackstone Group reported that about 20% of Healthcare’s common stock agreed to vote in favor of the deal, which is expected to boost UnitedHat’s adjusted per-. Companies said that in 2022 share income of 50 cents.
The acquisition marks the second major healthcare deal in the first week of 2021. Senten (Cnc) – Get Report Announced on Monday that it has agreed to buy Magellan Health (MGLN) – Get Report In a $ 2.2 billion tie-up.