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BRIEF-UnitedHealth's Optum To Buy Davita Medical Group For About $4.9 Bln In Cash
December 6, 2017 / 11:57 AM / 7 days ago

BRIEF-UnitedHealth's Optum To Buy Davita Medical Group For About $4.9 Bln In Cash

Dec 6 (Reuters) - UnitedHealth Group Inc:

* DAVITA MEDICAL GROUP TO JOIN OPTUM

* OPTUM - ‍AGREEMENT, ENTERED INTO ON DECEMBER 5, 2017, CALLS FOR OPTUM TO ACQUIRE DAVITA MEDICAL GROUP FOR APPROXIMATELY $4.9 BILLION IN CASH​

* OPTUM - FOLLOWING TRANSACTION, DAVITA MEDICAL GROUP WILL BECOME PART OF OPTUM‘S OPTUMCARE DIVISION

* OPTUM - ‍DAVITA PLANS TO USE PROCEEDS FROM DEAL FOR SIGNIFICANT STOCK REPURCHASES OVER 1 TO 2 YRS AFTER CLOSE OF DEAL, AS WELL AS TO REPAY DEBT​, OTHERS

* OPTUM - ‍JOE MELLO, COO OF DAVITA MEDICAL GROUP, WILL CONTINUE IN LEADERSHIP ROLE IN COMBINED ENTITY, AS WILL DAVITA MEDICAL GROUP LEADERSHIP TEAM​ Source text for Eikon: Further company coverage:

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