Optum has agreed to acquire Alere‘s health management services business for $600 million cash in a bid to help government agencies, insurers and employers address public health problems.
Alere Health offers medical condition management, wellness and home-based obstetrical services to more than 22 million customers across the U.S., Optum said Tuesday.
“Adding Alere Health’s solutions and expertise allow us to be an even more valuable partner to payers, employers, federal and state governments and consumers in achieving their long-term population health and cost management goals, ” said Optum CEO Larry Renfro.
The acquisition of Alere Health is subject to regulatory approval and other customary closing conditions.
Foley Hoag LLP and Covington Associates respectively serve as legal and financial advisers to Alere Health in the transaction.
Alere is divesting the business to focus on its core diagnostics portfolio and plans to use proceeds from the sale to reduce debt.
