UnitedHealth Group, the U.S.’s largest health insurer, last week bought pharmacy company Genoa Healthcare for $2.5 billion, Bloomberg reports.
A source familiar with the private talks told Bloomberg UnitedHealth beat other interested parties to the deal, including Walgreens Boots Alliance, which was reportedly interested in Genoa several months ago. Genoa runs more than 425 pharmacies in behavioral health centers across 46 states, serving an estimated 650,000 patients.
Genoa will be wrapped into UnitedHealth’s pharmacy benefit group, OptumRx, with the goal of improving care for patients with mental health and substance abuse issues. The company was bought through Advent International, a private equity firm that bought an 80 percent stake in Genoa in 2015.
Date: October 8, 2018
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Source: HealthExec