Optum, a division of Minneapolis-based UnitedHealth Group, has entered into a definitive agreement to acquire Waltham, Mass.-based healthcare diagnostics and solutions provider Alere Health.
The acquisition will expand Optum's ability to help consumers improve population health and address the challenges of healthcare costs. Additionally, the agreement allows Alere to focus on strengthen its leadership in the global rapid diagnostics market and improve its balance sheet.
The acquisition takes the form of a $600 million cash transaction subject to customary regulatory approval and other closing conditions.