Surgical Care Affiliates (SCA) to Combine with OptumCare
On January 9th, Surgical Care Affiliates (Nasdaq: SCAI), a leader in the outpatient surgery industry, and Optum, Inc. have announced they will be combining their companies. Optum is a leading information and technology-enabled health services business that is part of UnitedHealth Group (NYSE: UNH). The combination of the two companies will build upon Optum’s primary and urgent care delivery services business, while expanding their capabilities in outpatient surgical procedures. Under the agreement, SCA will become part of the OptumCare platform, which serves millions of consumers annually. In addition to the benefits Optum will realize, the companies also noted some additional synergies:
- Will create comprehensive ambulatory care services platform, including primary care, urgent care, and surgical care services
- The combination will broaden ability of the companies to improve patient experience, and quality, and cost of care
- The companies will align strategy to support value-based payment models and a multi-payer approach
- Will build on companies’ existing joint ventures, strong relationships, and complementary capabilities
Under the agreement, OptumCare will acquire all outstanding common stock of SCA for a fixed price of $57.00 per share. Between 51-80 percent will be funded with UnitedHealth Group common stock, with the remainder being funded at UnitedHealth Group’s option and cash. The transaction is expected to close during the first half of 2017.
Read the full press release at www.optum.com
Below are highlights of additional Merger and Acquisition activity from the last week:
Asset Management M&A News: Quinpario Acquisition Corporation 2 (Nasdaq: QPAC, QPACW, and QPACU) (“Quinpario”), a special purpose acquisition company announced on January 13th that it has entered into non-binding letter of intent to acquire two privately owned companies. The pro-forma revenue of both companies is approximately $1.5 billion with an EBITDA of $385 million.
Read more at www.quinpario.com
Financial Technology M&A News: T0.com, Inc. (pronounced tee-zero), a financial technology firm best known for their majority ownership in Overstock.com, announced the creation of Blue Ocean Technologies, LLC after acquiring the assets of Singapore-based Blue Ocean Financial Technology. The addition of both companies will create further expansion of the fintech leader’s presence and range of services in the financial technology space.
Read more at www.t0.com
Technology Distributor M&A News: TestEquity, a value-added distributor of test and measurement equipment and MRO tools and supplies, announced on January 10th, that it has acquired JENSEN Tools + Supply, a subsidiary of Stanley Black & Decker. JENSEN Tools + Supply have been the leading provider of value-added solutions for electronic manufactures, field services, and repair professionals.
Read more at www.testequity.com
