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Optum was formed as a subsidiary of UnitedHealth Group in 2011 by merging UnitedHealth Group’s existing pharmacy and care delivery services into the single Optum brand, comprising three main businesses: OptumHealth, OptumInsight and OptumRx. [2] In 2017, Optum accounted for 44 percent of UnitedHealth Group's profits. [3]
UnitedHealth Group originated in late 1974, when Minnesota-based Charter Med Incorporated was founded by Richard Taylor Burke.It originally processed claims for doctors at the Hennepin County Medical Society. [5]
Catamaran Corporation (formerly SXC Health Solutions) is the former name of a company that now operates within UnitedHealth Group's OptumRX division (since July 2015). It sells pharmacy benefit management and medical record keeping services to businesses in the United States [3] and to a broad client portfolio, including health plans and employers. [4]
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OptumRx, founded in 2011 as part of UHG, took in $116.1 billion in 2023, accounting for 31.2% of UHG's revenue. This article appears in the February/March 2025 issue of Fortune with the headline ...
Cardinal said it expects to partially offset the impact of losing the Optum contracts through customer additions and growth in its more profitable specialty pharmacy business.