UnitedHealth Buying Surgical Care for $2.3 Billion

NEW YORK (AP) — UnitedHealth Group is buying surgical center operator Surgical Care Affiliates for about $2.3 billion in a cash-and-stock deal that will add to its outpatient holdings.

The Minnetonka, Minnesota-based health insurer will add Deerfield, Illinois-based Surgical Care to its Optum health services unit, which has 20,000 affiliated physicians and hundreds of facilities. Surgical Care operates 205 surgical facilities and partners with about 3,000 physicians.

The acquisition will be funded with between 51 percent and 80 percent of UnitedHealth stock. The remainder will be in cash.

UnitedHealth Group Inc. is the nation’s largest health insurer. Its core insurance business helped swell profit 23 percent during its third quarter, while prompting a boost in its outlook.

Shares of Surgical Care Affiliates Inc. climbed $7.82, or 16.1 percent, to $56.57 in morning trading, while UnitedHealth Group Inc. shares slipped $1.27 to $161.14.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Tampa

Kids Rock Science presented by Tampa Bay Water & TECO - at MOSICome be inspired by STEM exhibits at CW44's Kids Rock Science presented by Tampa Bay Water and TECO Saturday, April 15th from 10a-2p at MOSI.
Fake News: Tips On How to Distinguish it from the Real ThingTeachers from elementary school through college are instructing students on how to decipher fact from fiction when it comes to online news, after an election season that saw made-up stories abound.

Listen Live