The Advisory Board set to sell its healthcare services unit to UnitedHealth in $1.3bn deal
UnitedHealth saidit is...
UnitedHealth’s Optum branch has agreed a deal with The Advisory Board Company’s healthcare business in a deal worth $1.3bn.
UnitedHealth said it is excited about the combination of Optum and the healthcare unit, with the expectation that the combined organisation will be able to improve the health system for its members and clients through the amalgamation of information and technology solutions with research and advisory expertise.
“Joining Optum will enable us to better serve our members, thanks to Optum’s unmatched data analytics resources, investment capacities and operational experience in delivering large-scale solutions and services to all healthcare stakeholders,” said Robert Musslewhite, CEO of The Advisory Board.
“Our team and I look forward to working with Optum to bring our innovative research capabilities into new, untapped markets.”
The addition will complement Optum’s existing portfolio, with the healthcare company’s core focus being on data analytics, pharmacy care services, population health management, healthcare delivery and healthcare operations.
“The Advisory Board Company is a strong fit for Optum because they share our mission of making the health care system work better for everyone,” CEO of Optum Larry Renfro said.
“We have great admiration for the talent and experience of The Advisory Board’s team and its leaders, and look forward to working alongside them to help its members and our clients solve their biggest challenges.”
The deal has come simultaneously with the announcement of The Advisory Board’s sale of its education business to Vista Equity Partners, a private equity firm, for $1.55bn including debt, expected to close by early 2018.