The deal comes at a time UnitedHealth continues to acquire more medical care providers and services through its Optum unit. By Colin Kellaher . In addition, these materials will be available at no charge by directing such requests to D.F. The agreement calls for the acquisition of Diplomat’s outstanding common stock for $4.00 per share through a cash tender offer and assumption of outstanding debt.Diplomat brings expertise in managing specialty medications that treat patients with complex diseases, such as oncology and immunology, and provides specialized infusion therapies offered in convenient and clinically appropriate settings in all 50 states and Washington, D.C. King & Co., Inc., the information agent for the tender offer, at (212) 269-5550 for banks and brokers or (866) 829-0135 for all others, or by email at DPLO@dfking.com.This press release contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements relating to the expected benefits of the proposed transaction and the timing of the closing of the proposed transaction. Started out in 1975 as a neighborhood pharmacy that also provided specialty pharmacy services, Diplomat forayed into the PBM business in 2017 with back-to-back purchases of LDI Integrated Pharmacy Services and National Pharmaceutical Services. Last year, Cigna Corp. CI merged with  Express Scripts, the leading PBM player and Aetna got acquired by CVS Heath Corporation CVS.Dow Jones Rallies 308 Points; Why This Wall Street Expert Sees The S&P 500 At 3800 In 2021J.C. ©2020 UnitedHealth Group. United Health Group… You should not place undue reliance on these statements. UnitedHealth Group is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise, except as required by law. The agreement calls for the acquisition of Diplomat’s outstanding common stock for $4.00 per share through a cash tender offer and assumption of outstanding debt. It also provides specialized infusion therapies in convenient and clinically appropriate settings with a vast presence in all 50 states and Washington, D.C.The deal will aid the segment’s margin by lowering total cost of care, which will be achieved by improved health outcomes and reduced prescription drug costs.Through OptumRx, the company aims to provide a full spectrum of pharmacy care services by making drugs more affordable and creating a better experience for consumers. Diplomat’s recent woes were driven mainly by insurers aggressively directing scripts to their own in-house specialty pharmacies, which will now be mitigated with the company under the UnitedHealth roof, according to Evercore ISI analyst Michael Newshel. UnitedHealth plans to acquire Diplomat Pharmacy at a steep discount about a month after the specialty drug provider said it may not be able to make its debt payments. The purchase price represents a roughly 31.2% discount to Friday's closing price of $5.81 for Diplomat. The purchase price represents a roughly 31.2% discount to Friday's closing price of $5.81 for Diplomat. Diplomat Pharmacy agrees to $300 million buyout by UnitedHealth. The agreement includes buying Diplomat’s outstanding common stock for $4 per share through a cash tender offer and takeover of existing debt.Diplomat is a perfect fit for OptumRx given the former company’s niche in treating patients with complex diseases, such as oncology and immunology. I've written for many media outlets, including the New York Times (2011-2013) and was healthcare reporter at the Chicago Tribune (1998-2011). Combination will provide enhanced specialty and infusion services for patients; help manage growth in high-cost specialty pharmaceuticalsDiplomat, OptumRx Combining to Advance Access to Specialty Pharmacy Care and Infusion Services, Improve Health OutcomesOptumRx, the pharmacy care services business of Optum, and Diplomat, a provider of specialty pharmacy and infusion services, are combining. Diplomat Pharmacy is the 6th largest employer in Flint with more than 1,400 people working for the company. Watts on why the ‘race issue’ is costing Republicans Black votersJoe Biden's tax policy puts these 16 consumer company stocks at risk: Goldman SachsStock market news live updates: Nasdaq rises as tech shares gain; S&P 500 drifts after touching recordClaflin University President on closing the endowment gap and how HBCUs have been handling COVID-19Coronavirus: EasyJet raises an extra £203m from aircraft salesSquare Tests New Cash App Feature To Let Users Borrow Up To $200Disappointing Forecast from Cisco Systems Drags Dow LowerHow Barstool’s deal with Penn National could boost the gaming company’s stock price I have covered the rise, fall and rise again of health reform, chronicling national trends as well as the influence of Barack and Michelle Obama from Chicago's South Side on changes to the U.S. health system from my base in Chicago. These statements are based on current expectations, forecasts and assumptions of UnitedHealth Group and Diplomat that are subject to risks and uncertainties that could cause actual outcomes and results to differ materially from those statements.

Diplomat’s board of directors unanimously approved the purchase, according to a UnitedHealth Group-issued press release. Shares of Diplomat Pharmacy tumbled more than 30% in premarket trading Monday after the provider of specialty pharmacy and infusion services agreed to be acquired by UnitedHealth Group for about $303 million, or $4.00 a share, in cash.. UnitedHealth Group, Denali Merger Sub, Inc. and Diplomat intend to mail these documents to the shareholders of Diplomat. Diplomat opened its doors in 1975 as a neighborhood pharmacy with one essential tenet: “Take good care of patients and the rest falls into place.” Today, that tradition continues — always focused on improving patient care.

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