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news.UnitedHealthcare, a UnitedHealth Group company, has signed a definitive agreement with Fiserv to acquire substantially all of Fiserv's health-related businesses for $775 million in cash.
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The transaction includes Fiserv Health, a leading administrator of medical benefits, Avidyn Health, a care facilitation business, and the Fiserv Health Specialty Solutions businesses, which include J.W. Hutton, a subrogation and overpayment recovery organization, and ppoONE, a claim repricing and data management service and Fiserv Health’s Pharmacy Benefits Management business (PBM) Innoviant.
This transaction is expected to close in late 2007 or in the first quarter of 2008, subject to required regulatory approvals and customary closing conditions, and is expected to be marginally accretive to 2008 earnings per share.
Ken Burdick, president and CEO of UnitedHealthcare, said: “Fiserv Health has a set of strategic and well-positioned businesses, a strong management team and talented employees who consistently deliver excellent customer service. Combining Fiserv Health’s vibrant assets and capabilities with those we currently offer will produce an expanded suite of services for customers seeking dedicated, customized benefit packages, such as Taft-Hartley trusts and voluntary employees’ beneficiary associations, hospitals, states and municipalities and other market participants requiring customized solutions.”