UnitedHealth Group acquires Genoa Healthcare for $2.5B
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.
Read the full report from Bloomberg below:
After graduating from Indiana University-Bloomington with a bachelor’s in journalism, Anicka joined TriMed’s Chicago team in 2017 covering cardiology. Close to her heart is long-form journalism, Pilot G-2 pens, dark chocolate and her dog Harper Lee.