UnitedHealth Group, one of the US's largest healthcare companies, announced that it would buy Change Healthcare in a deal valued at more than $13 billion. The purchase will be made in cash, with the former paying $25.75 per share for the latter. The price is 41% higher than the one reported by Change Healthcare at closing on Tuesday.
The agreement will bring together Change Healthcare and UnitedHealth's unit – OptumInsight – to deal with data analytics, technology, and various other healthcare industry services. The acquisition is to close in the second half of the year.
Following the news, Change Healthcare stock price gained more than 31%, while UnitedHealth reported a 0.6% increase.