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UnitedHealth Group (New York Stock Exchange: UNH) has closed a deal to acquire New York-based medical group Crystal Run Healthcare, highlighting the growing interest from managed care players in primary care providers.
Crystal Run operates a network of more than 400 physicians throughout Hudson Valley and the lower Catskill region covering nearly 50 medical specialties, including primary care.
While neither company publicly disclosed the transaction, Crystal Run CEO Dr. Hal Teitelbaum informed employees that his organization became part of the Optum unit of UnitedHealth (UNH) effective February 22.
“We will be joining Optum as part of their Tri-State Team and will no longer have proprietary physicians,” Dr. Teitelbaum said in an email to employees, according to Mid-Hudson Newsone of the first outlets to report the transaction.
“Crystal Run has long recognized that the fee-for-service reimbursement model doesn’t work, and we’re committed to transitioning to value-based care focused on the quadruple goal,” added Dr. Teitelbaum.
After rival CVS Health (CVS) agreed to acquire home health care provider Signify Health for nearly $8 billion in September, UnitedHealth (UNH) was often cited as a possible bidder for Cano Health (CANO), a provider primary care provider based in Miami, Florida. .
