UnitedHealth Group’s Optum is in advanced talks to acquire virtual therapy provider AbleTo for about $470 million, according to people familiar with the deal, at a time when telehealth is more in demand than ever. The transaction would value AbleTo, a 12-year-old company based in New York, at about 10 times forward revenue, said the people, who asked not to be named because the deal hasn’t closed and terms could still change. Optum, the division of insurer UnitedHealth that provides technology-enabled services, has been growing through acquisitions, including the purchase of DaVita Medical Group for almost $5 billion and patient-monitoring start-up Vivify Health. Like other providers of remote health services, particularly in the area of mental health, AbleTo is seeing increased demand as people across the country deal with the medical and economic fallout of Covid-19. AbleTo’s main service is covered by some insurers, and the company also offers free tools from a link at the top of its website, labeled “Coping with Coronavirus: Resources from our clinical team.”
Read the full article: UnitedHealth’s Optum Is in Advanced Talks to Acquire Remote Mental Health Provider AbleTo for about $470M //
Source: https://www.cnbc.com/2020/04/27/unitedhealth-near-buying-telehealth-provider-ableto-for-470-million.html