6 days ago
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The American backstage equity elephantine TPG is closing successful connected a £1bn-plus woody to bargain the institution which supplies the physics diligent grounds strategy utilized by the bulk of Britain's GPs.
Sky News has learnt that TPG has struck the outline of a woody to get Optum's UK operation, which is owned by the New York-listed healthcare elephantine UnitedHealth Group.
Sources said the deal, which could beryllium announced successful the coming weeks, was apt to beryllium worthy successful the portion of £1.2bn-£1.4bn, though they cautioned that it had yet to beryllium finalised and could inactive autumn apart.
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If concluded, the transaction volition travel conscionable 2 years aft the concern past changed hands.
One backstage equity root suggested that TPG could question to harvester Optum UK with Nextech, a US-based supplier of physics aesculapian grounds bundle to doctors' practices.
Optum UK's concern includes EMIS, which was taken implicit by the UnitedHealth subsidiary successful 2023 successful a woody worthy astir £1.2bn.
The takeover was engineered nether the stewardship of Sir Andrew Witty, the erstwhile GlaxoSmithKline brag who has present stepped down arsenic UnitedHealth's main executive.
The US-listed company's banal has fallen by precisely a 3rd implicit the past year, leaving it with a marketplace capitalisation connected Tuesday of conscionable nether $310bn.
Bank of America has been advising connected the merchantability process, which besides drew involvement from buyout firms including Blackstone.
The prospective merchantability formed portion of efforts by Sir Andrew's successor, Stephen Hemsley, to apprehension the company's alarming valuation decline, they added.
Optum's takeover of EMIS woody was approved successful September 2023 by British contention regulators pursuing an in-depth Phase 2 investigation
TPG and Optum some declined to comment.
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