UnitedHealth Group said its health services unit has completed the acquisition of Change Healthcare, ending more than a year of uncertainty due to anti-competitive concerns.
The deal’s completion follows a U.S. judge last month denying the U.S. Justice Department’s bid to stop UnitedHealth’s unit Optum from buying Change Healthcare.
UnitedHealth announced the nearly $8 billion all-cash deal in January 2021 to help streamline administrative and payment processes, but the Justice Department raised anti-trust concerns due to the two companies competing software for processing healthcare claims.
In April, UnitedHealth and Change Healthcare extended the closing date of their merger by another nine months to Dec. 31 after the department sued to stop the deal. UnitedHealth later that month also agreed to sell Change Healthcare’s claims editing business for $2.2 billion in a move to potentially ease regulatory hurdles.
Source: Reuters.com