The stock of Advisory Board Company (NASDAQ:ABCO) closed at $53.78 losing 0.05% in yesterday’s trading session. This company has approved the merger with Optum and experts have praised the move saying that it will help promote the resolution of health care challenges.
The agreement spells out Optum’s acquisition of Advisory Board and that is through a merger. Affiliates of Vista Equity Partners will be expected to buy the education business of Advisory Board and that is prior to the closing of the merger.
This agreement takes into account The Advisory Board Company’s high end independent research, strong capabilities in analytics and strategic health care advisory services. These together with Optum’s complementary products and services will move a long way towards benefiting the various health care stakeholders.
In the same light, Optum’s operational expertise in delivering large-scale solutions and exceptional data analytics resources will help much in strengthening The Advisory Board Company’s offerings. It will also help create more room for expansion into the new health care markets while at the same time helping preserve the autonomy and member-driven nature of its top end research.
By developing comprehensive health care-focused advisory business and best-practice solutions, the joint organization will help its clients and members as well to respond appropriately to changing market dynamics. Asides from that, they will also be able to improve the health systems for each and every person.
The last 30 years have witnessed Advisory Board’s strategic insights become a special part of the national health care conversation. The company is happy to welcome Optum as it looks forward to a bright future in terms of achieving immense business success.
The CEO of Optum, Larry Renfro, opined, “Together, we will be able to offer deeper and more comprehensive solutions to help all segments of the health care industry thrive in this evolving market, while preserving the objectivity and credibility of Advisory Board’s industry-leading research.”
According to him, joining Optum was a progressive move that was going to enable them to forge a stronger and more comprehensive platform that would make it possible to serve its members in the best way possible.