UnitedHealth Group closed its acquisition of Lafayette, La.-based home health firm LHC Group on Feb. 22, nearly 11 months after the proposed acquisition was announced. Here is a timeline of the deal:
March 29, 2022: UnitedHealth Group's Optum unit agrees to buy LHC Group in a $5.4 billion deal. UnitedHealth says it expects to close the deal in the second half of 2022.
June 10, 2022: The Federal Trade Commission requests additional information regarding the acquisition. The request also extends the waiting period the FTC is allowed to challenge the proposal under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 until the 30th day after "substantial compliance" with the request.
June 21, 2022: LHC Group shareholders give their approval for LHC Group to be purchased by UnitedHealth Group.
Dec. 8, 2022: Previously expected to close by the end of 2022, the purchase agreement is extended until March 28. UnitedHealth and LHC also certify to the FTC their substantial compliance with the June 10 request for additional information and documentation regarding the proposed acquisition.
Jan. 26, 2023: The FTC is reportedly reviewing UnitedHealth Group's planned purchase of LHC Group under a "potential vertical harm theory."
Jan. 31, 2023: The FTC is not expected to challenge UnitedHealth Group's acquisition of LHC Group.
Feb. 22, 2023: UnitedHealth Group closes the $5.4 billion acquisition.