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UnitedHealth reportedly buys Genoa Healthcare from Advent

Health insurer UnitedHealth Group, which in August reportedly reached a tentative agreement to buy pharmacy company Genoa Healthcare from private equity group Advent International, has completed the purchase, according to a Bloomberg report.

Walgreens Boots Alliance was reportedly among the suitors in August that were outbid by UnitedHealth

Genoa, which is estimated to be worth about $2.5 billion, has more than 425 pharmacies in behavioral-health centers in 46 states, serving more than 650,000 people. It employs more than 250 psychiatrists and nurse practitioners who provide telepsychiatry services to mental-health patients.

The company will be wrapped into UnitedHealth’s pharmacy benefit group OptumRx to improve care for patients with behavioral health and substance-abuse problems, according to the report.
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