Tom Wiffler, chief executive for specialty benefits at UnitedHealth’s insurance arm, UnitedHealthcare, confirmed the purchase with the Star Tribune. For 10-plus years, UnitedHealth said it has routinely sent employee health plan customers to Epic Hearing to purchase supplemental insurance for hearing aids.
Under the transaction, UnitedHealthcare will now sell the coverage directly to its customers as a specialty benefit with the likes of its vision and dental policies.
Financial terms of the transaction were not disclosed. Epic Hearing’s Swiss parent company, Sonova Holding, said Epic Hearing generated roughly $50 million in revenue in its most recent fiscal year, according to the Star Tribune.
The acquisition is the latest UnitedHealth purchase to be revealed in June. UnitedHealth’s Optum is one of two companies involved in a $2.2 billion acquisition of a Tacoma, Wash.-based physician staffing company from Fresenius, and UnitedHealthcare will acquire Peoples Health, a Metairie, La.-based Medicare Advantage plan, for an undisclosed amount.
More articles on payer issues:
Can blockchain improve provider directories? 5 insights from Humana, EY Advisory
Harvard Pilgrim Health Care CEO resigns citing behavior ‘inconsistent’ with company values
5 states with the highest premiums on the individual market so far
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
