(Alliance News) - The UK Competition & Markets Authority on Friday launched a phase 2 investigation into the planned takeover of Emis Group PLC by a subsidiary of UnitedHealth Group Inc, a Minnesota, US-based managed healthcare provider.
Emis, a Leeds-based healthcare software producer said UnitedHealth's proposed remedy, offered two weeks ago, for UK competition concerns were the sales of Optum's Medicines Optimisation and Population Health businesses in the UK. The CMA rejected these proposals, noting that it would not "achieve as comprehensive a solution as is reasonable".
In June last year, Emis had said it had agreed to a GBP1.24 billion takeover offer by Optum Health Solutions UK, which is a subsidiary of Minnesota-based healthcare and insurance firm UnitedHealth.
Emis shares fell 21% to 1,428.00 pence each in London on Friday morning following the announcement.
By Tom Budszus, Alliance News reporter
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