UnitedHealth buys pharmacy company Genoa Healthcare for $2.5B

In a deal valued at $2.5 billion, UnitedHealth Group purchased pharmacy company Genoa Healthcare from a private equity group, according to Bloomberg.

The largest insurer in the U.S. reportedly outbid other companies interested in Genoa, including Walgreens Boots Alliance, which disclosed its interest in buying the pharmacy company in August.

Genoa Healthcare, which has a team of more than 250 psychiatrists nurse practitioners, runs more than 425 pharmacies in behavioral health centers across 46 states. The pharmacy company will be integrated into UnitedHealth's pharmacy benefit group OptumRx to improve behavioral health for patients.

UnitedHealth purchased Genoa from Advent International, which bought an 80 percent stake in the pharmacy company in 2015.

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