United makes acquisition
NEWS IN BRIEF — Posted Nov. 26, 2007
UnitedHealth Group says it will pay $775 million for nearly all of the health business operated by financial services firm Fiserv.
The Brookfield, Wis.-based company will hand over its Fiserv Health Plan Administration business, the country's largest third-party plan administrator for self-funded health plans. Also, United will receive Fiserv's pharmacy benefit manager Innoviant and its Fiserv Health Plan Manager, a health care outsourcing business for mid-sized health plans.
Fiserv will retain its workers' compensation business. Pending regulatory approval, the deal is expected to close in late 2007 or early 2008.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2007/11/26/bibf1126.htm.