Optum, a subsidiary of UnitedHealth Group and parent company of ASC chain SCA Health, made six huge deals this year totaling more than $8 billion, focusing on physician groups and value-based care.
The six deals:
1. In March, Optum acquired home healthcare business LHC Group for $5.4 billion. Lafayette, La.-based LHC Group offers in-home health and hospice care from 964 locations in 37 states. Through the terms of the deal, Optum will pay $170 in cash for each share of LHC's stock.
2. Optum reportedly purchased Jacksonville Beach, Fla.-based Refresh Mental Health from private equity firm Kelso & Co. Refresh Mental Health has a network of more than 300 outpatient sites in 37 states with more than 1,500 employees. While financial terms of the Optum deal have not been disclosed, Kelso & Co. bought Refresh Mental Health in December 2020 for about $700 million.
3. In March 2021, Optum agreed to acquire Newton, Mass.-based Atrius Health, which employs 645 physicians and primary care providers, for $236 million. Although the acquisition came under scrutiny by the Massachusetts attorney general, the deal was confirmed in 2022.
4. In April, Optum acquired Houston-based Kelsey-Seybold for around $2 billion. Kelsey-Seybold is a multispecialty physician group with cancer and women's health centers, two ASCs and a sleep center.
5. In June, Optum Ventures, CVS Ventures, Anthem and HLM Venture Partners announced they are investing in CareBridge, a value-based healthcare company for patients receiving home and community-based services.
6. In July, Optum acquired Healthcare Associates of Texas, a Dallas-based physician practice management company, for $300 million. Healthcare Associates of Texas offers family medicine, physical therapy, sleep medicine, a wellness clinic, pharmacy, and lab and imaging services.