What did Optum, Inc. pay for Change Healthcare, Inc.?

$13.72B, equivalent to 13.8× EBITDA / 4.50× revenue. Target revenue was approximately $3075.0M. Target EBITDA was approximately $996.0M.

ACQUIRED · 2021

Who Acquired Change Healthcare, Inc.?

Optum, Inc. · $13.72B· 13.8× EBITDA

The acquisition

Change Healthcare, Inc. (United States and Canada) was acquired by Optum, Inc. in 2021 for $13.72B. Change Healthcare Inc. operates as an independent healthcare technology company and provides data- and analytics-driven solutions to enhance clinical, financial, administrative, and patient engagement outcomes in the United States healthcare system. It operates through three segments, including software and analytics, network solutions, and technology-enabled services. The software and analytics segment offers software and analytics solutions for revenue cycle management, provider network manage. The deal was priced at 13.8× EBITDA / 4.50× revenue.

Change Healthcare, Inc. at time of acquisition

Revenue

$3075.0M

EBITDA

$996.0M

Deal value

$13.72B

EV / EBITDA

13.8×

Other acquisitions by Optum, Inc.

Recent transactions by the same buyer — useful for understanding their playbook and what they typically pay.

Atrius Health · 2022 · $413.5M · 24.6× EBITDA
Healthcare Associates of Texas · 2022 · $300.0M · 17.7× EBITDA
AbleTo · 2020 · $470.0M
naviHealth · 2020 · $2.50B · 18.5× EBITDA

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