UnitedHealth Group health service company Optum's bid to acquire enterprise imaging firm Change Healthcare has been extended until December 31 as the firms fight a U.S. government challenge to the deal.
Optum and Change said they will present the benefits of the acquisition at a two-week trial set to begin on August 1. If the deal is unable to be completed due to the court's decision, Optum has agreed as part of the extension to pay a $650 million fee to Change. This fee would then be disbursed at or about the time of closing in a special dividend of $2 per share, according to the firm.
"The U.S. Department of Justice's attempt to block the combination is without merit and serves only to delay improving the experience and outcomes for all participants in the health system," the companies said in a statement.
The proposed $13 billion deal was announced in January.
