After sucessfully consolidating the health insurance industry over a 15-year tenure, UnitedHealth Group Inc.'s longtime CEO and chairman, William McGuire, agreed to step down by Dec. 1 because of his involvement in back-dating options. While McGuire falls on his sword, the company's CFO, Stephen Hemsley, will take the helm, even though he also participated in the fraudulent activity. Under McGuire's tutelage, the company became the largest health insurer in the country thanks in part to an active acquisition effort. Over the last five years, the company has made seven acquisitions worth a staggering $17.8 billion. The largest deal was last year's $8.1 billion purchase of Pacific Health Systems Inc. Below is a table of all seven deals from The Deal's Deal Focus database. —Matthew Wurtzel
UnitedHealth Group
Acquisitions from 2002 to 2006
|
| Target |
Announced |
Deal value
($mill.) |
Type of business |
| PacifiCare Health Systems Inc. |
7.06.05 |
8100 |
Health insurer |
| Oxford Health Plans Inc. |
4.26.04 |
4900 |
Health insurer |
| Mid Atlantic Medical Services Inc. |
10.27.03 |
2960 |
Health insurer |
| AmeriChoice Corp. |
1.18.02 |
560 |
Health insurer |
| John Deere Health Group Inc. |
12.06.05 |
500 |
Internal healthcare insurer
of tractor maker John Deere & Co. |
| Golden Rule Financial Corp. |
9.19.03 |
500 |
Medical savings account provider |
| Definity Health Corp. |
11.29.04 |
300 |
Health insurer |
Source: The Deal |
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