PHARMACY

UnitedHealth reportedly in tentative agreement to buy Genoa Healthcare

BY Sandra Levy

Health insurer UnitedHealth reportedly has at least a tentative agreement to buy specialty pharmacy operator Genoa Healthcare from private equity firm Advent International, according to an Axios report.

Bloomberg reported yesterday that Walgreens Boots Alliance was among those suitors interested in Genoa.

Genoa, which is estimated to be worth about $2.5 billion has more than 400 full-service pharmacies within community mental health centers. It serves about 650,000 customers and has more than 250 psychiatrists and nurse practitioners who provide telepsychiatry services to mental-health patients, according to the Bloomberg report.

Genoa CEO John Figueroa is expected to move on and Genoa chief commercial officer Mark Peterson will head the business for UnitedHealth, Axios’ report said.

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