UnitedHealth Gets U.S. OK to Buy PacifiCare
From Associated Press
UnitedHealth Group Inc. has received final regulatory approval for its $9.2-billion purchase of PacifiCare Health Systems, the health insurer said.
UnitedHealth agreed to divest parts of Cypress-based PacifiCare’s commercial health insurance business in Tucson and Boulder, Colo., to satisfy antitrust regulator concerns, the Justice Department said.
UnitedHealth also agreed to end its network access agreement with Blue Shield of California. Antitrust regulators objected to the arrangement because absorbing PacifiCare makes UnitedHealth one of Blue Shield of California’s main competitors.
Shares of Minnesota-based UnitedHealth rose 73 cents to $63.79.
