Here are three things to know about the decision.
1. The exit comes as Envision Healthcare sued UnitedHealth for allegedly lowering contracted payments to Envision physicians and not allowing new Envision medical practices to join its network.
2. A week before the lawsuit, reports surfaced March 6 that UnitedHealth was eyeing Envision’s ambulatory business. Several people familiar with the potential deal told Bloomberg equity firms are also interested in buying Envision outright or a portion of the company.
3. Envision saw shares drop as much as 6.8 percent on news UnitedHealth will withdraw its bid, according to the report.
More articles on payer issues:
Hillcrest HealthCare System, BCBS reach multiyear contract
Former BCBS of Minnesota CEO failed to disclose $20k consulting payments to board
AHIP CEO Marilyn Tavenner to retire after 3 years with trade group
