On the Record · UnitedHealth
UnitedHealth acquisitions, on the record
The businesses UnitedHealth bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Change Healthcare Inc.Word for word“On October 3, 2022, the Company acquired all of the outstanding common shares of Change Healthcare Inc. (Change) and funded Change’s payoff of its outstanding debt and credit facility for a total of $ 13.9 billion in cash.” 10-K for 2022 | acquisition | On October 3, 2022 | $ 13.9 billion in cash |
Change’s claims editing businessWord for word“Subsequent to closing and as planned, the Company sold Change’s claims editing business to an affiliate of investment funds of TPG Inc. for $ 2.2 billion in cash.” 10-K for 2022 | divestiture | — | $ 2.2 billion in cash |
LHC Group, Inc.Word for word“The Company completed the acquisition of LHC Group, Inc. on February 22, 2023.” 10-K for 2022 | acquisition | February 22, 2023 | — |
several other business combinationsWord for word“During the year ended December 31, 2022, the Company completed several other business combinations for total consideration of $ 8.8 billion.” 10-K for 2022 | acquisition | During the year ended December 31, 2022 | $ 8.8 billion |
operations in BrazilWord for word“On December 22, 2023, the Company entered into an agreement to sell its operations in Brazil to a private investor, subject to regulatory approval and other closing conditions.” 10-K for 2023 | agreed divestiture | December 22, 2023 | — |
companies in the health care sectorWord for word“The total anticipated capital required for these acquisitions, excluding the payoff of acquired indebtedness, is approximately $ 6 billion.” 10-K for 2023 | agreed acquisition | — | approximately $ 6 billion |
several business combinationsWord for word“During the year ended December 31, 2023, the Company completed several business combinations for total consideration of $ 10.2 billion.” 10-K for 2023 | acquisition | During the year ended December 31, 2023 | $ 10.2 billion |
Brazil operationsWord for word“On February 6, 2024, the Company completed the sale of its Brazil operations.” 10-K for 2024 | divestiture | February 6, 2024 | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Cash received from selling businesses | Goodwill from acquisitions |
|---|---|---|---|
| 2016-12-31 | $1.76 billion | — | $2.6 billion |
| 2017-12-31 | $2.13 billion | — | $7.1 billion |
| 2018-12-31 | $6 billion | — | $5.18 billion |
| 2019-12-31 | $8.34 billion | — | $6.94 billion |
| 2020-12-31 | $7.14 billion | $221 million | $6.38 billion |
| 2021-12-31 | $4.82 billion | $15 million | $4.8 billion |
| 2022-12-31 | $21.46 billion | $3.41 billion | $17.71 billion |
| 2023-12-31 | $10.14 billion | $685 million | $10.12 billion |
| 2024-12-31 | $13.41 billion | $2.04 billion | $4.38 billion |
| 2025-12-31 | $4.51 billion | $561 million | $4.29 billion |
Deal filings since 2016
- 2023-04-28 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-04-24 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from UnitedHealth’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2026-03-02. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.