Nossaman Advises Monarch HealthCare in Acquisition by OptumHealth
Nossaman's Corporate Practice Group successfully represented Irvine-based Monarch HealthCare in its acquisition by OptumHealth, a unit of UnitedHealth Group Incorporated (NYSE: UNH). The high-profile deal, which was previously reported in a Wall Street Journal article, is intended to strengthen Monarch's competitive position in Southern California by providing it with greater technological resources, clinical tools, and access to increased capital resources to support its network of approximately 2,300 IPA physician providers. In the transaction, Monarch has become part of a larger, stronger network in Southern California; OptumHealth previously acquired interests in two smaller Southern California groups, AppleCare Medical Group and Memorial HealthCare Independent Practice Association.
Under the deal, Monarch's management team will remain in place, enabling it to carry out the company's objective of preserving the independent practice of medicine.
Monarch said in a statement that the company "has agreed to enter a strategic relationship with Optum to support our physicians in providing high-quality, cost-effective patient care in Orange County, California."
Nossaman's representation of Monarch in the transaction was led by Charles Fiedler, Chair of Nossaman's Corporate Practice Group and long-time counsel to Monarch.