UnitedHealth Group’s acquisition of home health company LHC Group has formally closed, according to Seeking Alpha.
The deal had tentatively been scheduled to close on Thursday, February 23, pending regulatory approvals, according to a Nasdaq notice. In anticipation of the closing, UHC stock was halted immediately following an after-hours session at 8 p.m. on February 22, the notice said.
The Nasdaq delisting comes after recent reports that the Federal Trade Commission was unlikely to challenge the combination, according to Seeking Alpha.
WHY THIS MATTERS
The $5.4 billion deal, announced in March 2022, follows a filing with the Securities and Exchange Commission that stated the combination would close during the first quarter of this year.
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The deal was extended until March 28 after the FTC in June 2022 issued a second request for information.
THE LARGER TREND
Home health has become big business for an aging demographic.
During the height of the COVID-19 pandemic, hospital at home for acute care became one of the lifeline programs for health systems that had the capacity and resources to take advantage of public health emergency waivers.
LHC is focused on services for those chronically ill or injured.
Geisinger in Pennsylvania offers primary care home services for patients who have complex or chronic conditions, such as heart failure, emphysema or diabetes.
Source: Healthcare Financenews
