Bloomberg today reported that UnitedHealth Group is in talks to buy Executive Health Resources from ABRY Partners for approximately $1.5 billion.
Pretty sure we read that price-tag and buyer somewhere before… Oh yeah, at peHUB last week.
In case you missed it (and aren’t sick of it yet), peHUB previously reported Executive Health’s talks with Ingenix (a health IT unit of UnitedHealth), as well as with other bidders. Bloomberg says that UnitedHealth plans to add Executive Health to Ingenix’s database management and consulting unit.
ABRY Partners, which owns Executive Health, put the medical outsourcer up for sale in late Spring. ABRY initially targeted large buyout shops like the Blackstone Group, TPG and Warburg Pincus. By July, the auction had narrowed to strategics. In addition to Ingenix, other bidders included MedAssets, McKesson and 3M.
Executive Health, a medical outsourcer based in Newtown Square, Pa., has EBITDA of between $100 million and $125 million. The company is expected to go for a high multiple.