UnitedHealth ditches bid for Envision's ambulatory services arm: 3 things to know

UnitedHealth Group tossed its attempt to acquire Envision Healthcare Corp.'s ambulatory services unit, a source familiar with the matter told Bloomberg

Here are three things to know about the decision.

1. The exit comes as Envision Healthcare sued UnitedHealth for allegedly lowering contracted payments to Envision physicians and not allowing new Envision medical practices to join its network.

2. A week before the lawsuit, reports surfaced March 6 that UnitedHealth was eyeing Envision's ambulatory business. Several people familiar with the potential deal told Bloomberg equity firms are also interested in buying Envision outright or a portion of the company.

3. Envision saw shares drop as much as 6.8 percent on news UnitedHealth will withdraw its bid, according to the report.

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