UnitedHealth to sell Change Healthcare’s claims business for $2.2 billion
2022.04.25 17:13
FILE PHOTO: UnitedHealth Group’s headquarters building is seen in Minnetonka, Minnesota in this picture taken in 2019. UnitedHealth Group/via REUTERS
(Reuters) -UnitedHealth Group has entered an agreement to sell Change Healthcare (NASDAQ:CHNG)’s claims editing business to private equity firm TPG Capital for $2.2 billion after the healthcare company completes its acquisition of Change.
Earlier this month, UnitedHealth (NYSE:UNH) and Change agreed to extend the closing date of their $8 billion merger by another nine months to Dec. 31 after the U.S. Department of Justice (DoJ) sued to stop the deal.
The sale of the claims business will only go through once the acquisition is complete, Change said in a regulatory filing. https://www.sec.gov/ix?doc=/Archives/edgar/data/1756497/000119312522116452/d574197d8k.htm
UnitedHealth and Change offer competing softwares for processing healthcare claims and together serve 38 of the top 40 health insurers in the country, the DoJ said in its complaint in February.
The agency said UnitedHealth knew that access to claims would give it a view into rival health plans at Humana Inc (NYSE:HUM), Anthem Inc
