Optum targets telehealth provider for $470M acquisition: 5 details

Optum is trying to purchase a virtual therapy provider for $470 million, according to CNBC.

Four things to know:

1. Optum, which is part of UnitedHealth Group, is in talks with AbleTo, a New York-based telehealth company focused on mental health services. The company is seeing an uptick in users during the COVID-19 pandemic.

2. There are some insurers that cover AbleTo's main services and it also offers free tools for managing stress and supporting employees, among others.

3. In 2019, Optum Ventures invested in AbleTo. The company's other investors include Bain Capital Ventures and Aetna.

4. The $470 million transaction values AbleTo at about 10 times forward revenue, according to the report.

Neither company provided comment for the report.

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