UnitedHealth To Acquire Advisory Board’s Health Operation In Latest High-Profile Takeover
UnitedHealth’s health services arm, Optum, has grown rapidly over the years with an aggressive spate of acquisitions.
The Wall Street Journal:
Advisory Board Co. To Be Split And Sold For $2.58 Billion, Including Debt
The Advisory Board Co. will be split up and sold in a deal valued at around $2.21 billion, with its health-care business going to UnitedHealth Group Inc. and its education unit to private-equity firm Vista Equity Partners Management LLC. The consulting and software company had announced in February that its board was exploring strategic alternatives, including a possible sale. That move came after activist hedge fund Elliott Management Corp. said it and related entities had bought about 8.3% of the company’s shares, saying at the time they were undervalued and it wanted to engage in a dialogue with the company’s board. (Wilde Mathews and Cooper, 8/29)
Modern Healthcare:
Advisory Board Split In $2.6B Deal With UnitedHealth's Optum Buying Healthcare Business
"We determined that transactions with Optum and Vista Equity Partners allow us to accelerate the success of our healthcare and education businesses while realizing immediate value for stockholders," Robert Musslewhite, chairman and CEO of the Advisory Board, said in a statement. "We believe this is the best course of action for our stockholders, members and employees." (Kacik, 8/29)
