Change Healthcare said to announce buyer for ClaimsXten business as soon as next week
Change Healthcare (NASDAQ:CHNG) may announce a buyer for tis ClaimsXten business as soon as next week as UnitedHealth (NYSE:UNH) works to try to resolve DOJ antitrust concerns even after the agency sued to block the deal last month.
Availity is said to be the buyer of ClaimsXten unit, according to a Dealreporter story earlier.
The report comes after the DOJ sued to block UnitedHealth's (UNH) $8 billion purchase of Change Healthcare (CHNG) last month, claiming it would "harm competition" in commercial health insurance markets. The news also comes ahead of an April 5 deadline for the companies to walk from the deal.
One independent attorney told Dealreporter that divesting the ClaimsXten business could make the DOJ's case much harder to prove.
Bloomberg reported in late January that CHNG was working with advisers on potential sale of its payment integrity business, ClaimsXten. ClaimsXten may be valued at more than $1B in a sale.
Dealreporter also said earlier this week CHNG is said to be seeking a "sizeable" reverse break up fee from UNH if the parties decide to fight the Dept. of Justice's lawsuit to block the deal. The DOJ trial to block the deal is scheduled to start Aug. 1