The company that provides the electronic patient records system used by the majority of Britain’s GPs is being surrounded by a group of potential buyers, just two years after it last changed hands.
Sky News has learned that Blackstone is among a group of private equity firms exploring potential bids for Optum’s UK operations, which are owned by New York-listed healthcare giant UnitedHealth Group.
Optum UK’s operations include EMIS, which was acquired by subsidiary UnitedHealth in 2023 in a deal worth around £1.2 billion.
Last money: Restaurant sends bitter message to customers
The takeover was organized under the leadership of Sir Andrew Witty, the former head of GlaxoSmithKline who recently resigned as chief executive of UnitedHealth.
The U.S.-listed company’s shares have fallen by more than a third over the past year, giving it a market capitalization as of Thursday’s close of just under $331 billion.
Bank of America was reportedly retained to advise on the sales process.
A private equity source said UnitedHealth wants to recoup the 2023 purchase price.
The potential sale is part of efforts by Sir Andrew’s successor, Stephen Hemsley, to stem an alarming decline in the company’s valuation, they added.
Optum’s takeover of the EMIS deal was approved in September 2023 by UK competition regulators following an in-depth phase 2 investigation.
An Optum spokesperson said: “We do not comment on market speculation or rumors. »
Several other major financial investors are also reportedly in the early stages of exploring deals for the company.
Blackstone declined to comment.