The two companies said the deal will combine their third-party administration businesses and further extend health plan access to residents in New York’s central and upstate regions.
The roughly 400 people who work at Pomco’s headquarters were told of the transaction Monday, sources familiar with the situation told syracuse.com. While sources said employees were told their jobs would remain unaffected, a UnitedHealthcare spokesperson said the transaction is awaiting regulatory approval and that the insurer is unable to comment on the potential effects the deal will have on employees.
Matt Peterson, CEO of ancillary and individual businesses at UnitedHealthcare, told syracuse.com the insurer is “excited to combine capabilities with Pomco” and “see[s] further opportunities for growth with [the] combined businesses.”
UnitedHealthcare anticipates closing the sale within the next 30 days, according to the report.
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