UnitedHealth Group is “tentatively scheduled” to shut its $5.4 billion merger with LHC Group earlier than the market opens on Feb.23, the house well being supplier reported to the Nasdaq Inventory Market Thursday.
In anticipation of the deal finalizing, LHC Teams shares will cease buying and selling when the market closes Feb. 22. The corporate shall be delisted even when the transaction is incomplete as a result of it has not held a shareholder assembly in a yr, which is required to stay on the Nasdaq change, the corporate acknowledged in a submitting to the Securities and Alternate Fee final month.
UnitedHealth Group and the Lafayette, Louisana-based supplier are nonetheless awaiting phrase from the Federal Commerce Fee. The FTC requested extra details about the deal in June, which led the businesses to postpone closing till March. The businesses introduced the merger final March and initially anticipated it to shut through the second half of 2022. LHC Group could be folded into UnitedHealth Group’s Optum subsidiary.
UnitedHealth Group, LHC Group and the FTC didn’t instantly reply to interview requests.
Medical insurance corporations have invested in house well being suppliers as Medicare Benefit enrollment grows and carriers look to shift care to extra cost-efficient settings.
CVS Well being, mum or dad firm of the insurer Aetna, introduced in September that it could spend almost $8 billion to amass Signify Well being, a house well being danger evaluation and doctor enablement firm, and Humana accomplished its acquisition of Kindred at House in 2021.
