UnitedHealth Group is “expected to be scheduled” to complete a $5.4 billion merger with LHC Group before the market opens on February 23, home health care provider reported to the Nasdaq Stock Market on Thursday.
In anticipation of the deal being completed, shares of LHC Groups will cease to trade when the market closes on February 22. The company will be delisted even if the transaction is incomplete due to not holding a shareholder meeting for a year, which is required to remain on the Nasdaq exchange, the company admitted in a filing with the Commission. Department of Securities and Exchange last month.
UnitedHealth Group and its Lafayette, Louisiana-based provider are still awaiting information from the Federal Trade Commission. The FTC requested more information about the deal in June, prompting the companies to postpone their closure until March. The companies announced the merger last March and initially expected it to close. opens in the second half of 2022. LHC Group will be merged into UnitedHealth Group’s Optum subsidiary.
UnitedHealth Group, LHC Group and the FTC did not immediately respond to requests for interviews.
Health insurers have invested in home health care providers as Medicare Advantage enrollment grows and providers seek to shift care to facilities. more cost-effective.
CVS Health, the parent company of insurance company Aetna, announced in September that it would spend nearly $8 billion to acquire Signify Health, the home health risk assessment and physician support company, and Humana completed its acquisition of Kindred at Home in 2021.
