Massachusetts Supreme Judicial Court approves Optum's acquisition of Atrius
Optum Care will purchase Atrius' charitable assets for $236 million, with the proceeds going to the Atrius Health Equity Foundation.
Photo: Courtesy UnitedHealth Group
The Massachusetts Supreme Judicial Court on Friday approved the Atrius-Optum merger. Justice Dalila Argaez Wendlandt determined the proposed transaction was in the public interest and that it was impracticable for Atrius to continue operations in its present form.
The court approved the transaction with certain conditions. These include the stipulation that Atrius will no longer be a public charity under Massachusetts law, once Atrius causes the net proceeds of the proposed transaction to be transferred to the Atrius Health Equity Foundation, and that it amend its articles of organization to remove its charitable purposes.
WHY THIS MATTERS
The matter came before the court on the complaint of Atrius Health to approve a transaction involving charitable assets and for a declaratory judgment concerning Atrius' status as a public charity, according to court records.
Attorney General Maura Healey had already assented to Atrius' request, pending judicial review.
Atrius Health was no longer financially viable as a public charity. With no other options for Atrius viewed as feasible, its best chance for its long-term survival was the $236 million purchase of Atrius' charitable assets by Collaborative Care Holdings, dba Optum Care.
THE LARGER TREND
Optum and Atrius signed an acquisition agreement in March 2021.
Atrius is a large, independent physician-led healthcare organization that provides care to more than 690,000 adult and pediatric patients. It employs 645 physicians and primary care providers, along with 421 additional clinicians.
Optum Care has an estimated 53,000 doctors and 1,450 neighborhood clinics across the country, with a focus on primary care.
Twitter: @SusanJMorse
Email the writer: SMorse@himss.org
