McGuire stepped down as chairman and director due to his involvement in the employee stock options scandal. In February 2006, the company acquired John Deere Health Care. This business was later rebranded OptumRx. The company acquired Prescription Solutions, another pharmacy benefits manager, as part of its acquisition of PacifiCare Health Systems. It agreed to divest parts of PacifiCare's commercial health insurance business in Tucson, Arizona and Boulder, Colorado to satisfy antitrust regulator concerns, and also agreed to end its network access agreement with Blue Shield of California. In December 2005, the company acquired PacifiCare Health Systems. In July 2004, the company acquired Oxford Health Plans. In April 2004, UnitedHealth Group acquired Touchpoint Health Plan, a Wisconsin health plan. It changed its name to OptumHealth Bank in 2008 and to Optum Bank in 2012. On July 21, 2003, Exante Bank started operating in Salt Lake City, Utah, as a Utah state-chartered industrial loan corporation. Also in 2003, UnitedHealth Group acquired Golden Rule Financial, a provider of health savings accounts. In 2003, UnitedHealth Group acquired Mid Atlantic Medical Services, an insurer serving Maryland, Washington D.C., Virginia, Delaware and West Virginia. In 2001, EverCare, a UnitedHealth Group subsidiary, merged with LifeMark Health Plans In 2002, UnitedHealth Group acquired GeoAccess and Medicaid insurance company AmeriChoice. Also in 1998, United Health Group acquired HealthPartners of Arizona, operator of Arizona's largest AHCCCS provider. In 1998, the company was reorganized as the holding of independent companies UnitedHealthcare, Ovations, Uniprise, Specialized Care Services and Ingenix, and rebranded as "UnitedHealth Group". In 1996, United HealthCare acquired HealthWise of America, which operated HMOs in Arkansas, Maryland, Kentucky and Tennessee. MetraHealth was a privately held company formed by combining the group healthcare operations of The Travelers Companies and MetLife. In 1995, the company acquired The MetraHealth Companies Inc. In 1994, United HealthCare acquired Ramsey-HMO, a Florida insurer. The subsidiary was sold to SmithKline Beecham in 1994 for $2.3 billion. It managed pharmacy benefits delivered both through retail pharmacies and mail. ![]() In 1988, United HealthCare started its first pharmacy benefit management, through its Diversified Pharmaceutical Services subsidiary. It became a publicly traded company in 1984 and changed its name to UnitedHealth Group in 1988. United HealthCare Corporation was founded in 1977 to purchase Charter Med and create a network-based health plan for seniors. It originally processed claims for doctors at the Hennepin County Medical Society. UnitedHealth Group has origins dating back to late 1974 with the founding of Minnesota-based Charter Med Incorporated by Richard Taylor Burke. UnitedHealth Group had a market capitalization of $400.7 billion as of March 31, 2021. ![]() The company is ranked 5th on the 2023 Fortune Global 500. UnitedHealthcare revenues comprise 78% of the Group's overall revenue. Offering insurance services under UnitedHealthcare and healthcare products under Optum, it is the world's eleventh-largest company by revenue and the largest healthcare company by revenue, and the largest insurance company by net premiums. ![]() UnitedHealth Group Incorporated is an American multinational managed healthcare and insurance company based in Minnetonka, Minnesota.
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