© Reuters. UnitedHealth (UNH) Cleared to Acquire Change Healthcare (CHNG)
By Senad Karaahmetovic
The Department of Justice’s (DoJ) antitrust challenge to UnitedHealth’s (NYSE:) $13 billion acquisition of Change Healthcare (NASDAQ:) has been dismissed by a federal judge on Monday.
Therefore, the DoJ’s request to block the acquisition on grounds that it would suppress competition and limit innovation is rejected. Regulators sued UNH in February to try and block the deal as they felt it would grant the company a monopoly in certain areas.
“Protecting competition and access to affordable healthcare is of the utmost importance to the antitrust division and the Department of Justice,” said the Justice Department’s top antitrust official, Jonathan Kanter.
While the DoJ said it is considering its next steps, UNH was understandably pleased with the outcome. The company offered to divest certain business assets to please regulators but that offer was rejected by the DoJ. However, judge Nichols ordered UNH to make that divestiture.
“We are pleased with the decision and look forward to combining with Change Healthcare as quickly as possible so that together we can continue our work to make the health system work better for everyone.”
Be the first to comment