The health care company announced on Monday that it is buying Optum, the maker of the company’s wellness software.
The acquisition brings Optum’s wellness services into the Optum Healthcare network and also will help accelerate the company and its technology, Optum CEO Scott Cramer said in a statement.
Optum Healthcare, which provides medical, dental, and vision services to consumers across North America, Europe, and Asia, was founded in 1999.
It has a $100 million Series B round led by Pershing Square Capital, the investment arm of Microsoft founder Bill Gates.
Optum said it expects the acquisition to add $300 million to its cash and equity holdings, as well as $300m to its investment portfolio.
“Optum Health’s products and services have dramatically improved the health and wellness of millions of people across North and South America, Asia and Australia,” the company said in its announcement.
“We are confident that this acquisition will allow us to continue to make a difference in people’s lives by helping them achieve their full potential, with an even broader scope of health and wellbeing, while providing a platform to grow our technology and our business.
Optus Healthcare will also provide Optum employees and employees of its OptumCare Health and Optum Care Network with access to its Optums Health app.”
The deal is subject to regulatory approvals, including the Federal Trade Commission and U.S. Securities and Exchange Commission, according to a statement from the companies.”
OptumCare is one of the most successful health care technology companies in the world and is committed to building on this momentum to help shape the future of health care.”
The deal is subject to regulatory approvals, including the Federal Trade Commission and U.S. Securities and Exchange Commission, according to a statement from the companies.
Optium Health is based in San Francisco, California.