BROOKFIELD, Wis. -- Fiserv Inc.'s sale of substantially all of its health-related businesses to UnitedHealthcare has been completed, the companies announced.
The $775 million cash transaction announced in November included Fiserv Health, a leading administrator of medical benefits; Avidyn Health, a care facilitation business; the Fiserv Health Specialty Solutions businesses; and Innoviant, a pharmacy benefits management business.
The divestiture will allow Fiserv to focus on its financial services businesses, the company said. It did retain its workers' compensation services organization and a health banking operation.
UnitedHealthcare is part of Minneapolis-based UnitedHealth Group.
"UnitedHealthcare was the right partner for these businesses and their customers, and should provide enhanced opportunities for Fiserv Health employees," says Jeffery Yabuki, Fiserv's president and chief executive officer.
