UnitedHealth Group is acquiring a large Seattle-based clinic for primary and specialty care that further expands the Minnetonka-based company's growing business that provides care directly to patients.
Chief Executive David Wichmann told investors meeting Tuesday in New York that the deal to purchase Polyclinic will supplement the Everett Clinic business in the Seattle area that UnitedHealth is acquiring through a separate deal for DaVita Medical Group.
Wichmann did not disclose financial terms. In December 2017, UnitedHealth's Optum division for health care services announced a $4.9 billion deal to acquire DaVita Medical Group, although the acquisition still hasn't closed.
"We are building the nation's first comprehensive, next generation, primary and ambulatory care system," Wichmann said Tuesday.
UnitedHealth Group operates UnitedHealthcare, which is the nation's largest health insurer, and the health services business called Optum, which includes patient care, IT consulting and pharmaceutical benefits management (PBM).
The company's push into the clinic business fits with a broader trend among the nation's largest health insurers to dabble in patient care via physician practices and pharmacies.
Connecticut-based health insurance giant Aetna is reportedly close to closing its $69 billion merger with Rhode Island-based CVS, which is both a large PBM and operator of retail pharmacies. The health insurer Cigna is pursuing a merger with St. Louis-based Express Scripts, which is the nation's largest PBM.
Health insurers Anthem, Centene and Humana all have made smaller moves to get into the clinic business. Beyond DaVita Medical Group and the new Seattle-based clinic, the UnitedHealth Group business called OptumCare includes roughly a dozen large clinics that operate in 10 states.