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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]
As of 2023, PBMs managed pharmacy benefits for 275 million Americans and the three largest PBMs in the US, CVS Caremark, Cigna Express Scripts, and UnitedHealth Group’s Optum Rx, make up about 80% of the market share covering about 270 million people [4] [5] with a market of almost $600 billion in 2024.
In June 2019, UnitedHealth's Optum division acquired Davita Medical Group from DaVita Inc. for $4.3 billion. [ 51 ] [ 52 ] [ 53 ] That year, the company also agreed to acquire Equian for $3.2 billion.
Change Healthcare was established in 2007 and based in Brentwood, Tennessee. [5] The company provided healthcare consumer engagement [clarification needed] and health plan cost transparency tools to health plans and large, self-insured employers, [6] across the United States.
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 ...
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]
Centene was founded by Elizabeth Brinn as the Managed Health Services in Milwaukee, Wisconsin, in 1984. [3] After the death of Brinn, the non-profit organization was sold to investors, with the proceeds going to the Betty Brinn Foundation, which subsequently became a major shareholder in Centene.
The Optum contracts, signed in 2015, contributed 16% of Cardinal's total revenue in fiscal year 2023, but the bulk of the shipments mainly comprised non-specialty medicines, Cardinal Health said.