This is yet another move from the Optum Subsidiary of Untied and if you visit the their pages at the SEC you will find 15 pages of subsidiary companies, everything from a bank, cheap hearing aids, to hospice for profit.
Health Insurance Business Under the Radar With Tiered Subsidiaries–Where All the Action Takes Place With Mergers, Acquisitions and Profit Centers-Subsidiary Watch
There’s also some recent investing and ownership with with surgical centers. We are all aware of hospital systems buying up surgical centers and there’s also insurance company subsidiary action here too. Via the MemorialCare subsidiary of Optum, the subsidiary of United HealthGroup created a new venture or subsidiary called Beach Surgical Holdings, LLC in February of 2013 . Do take a look at the official SEC listing if you don’t believe that all the action is happening with subsidiaries today.
The LHI subsidiary in the United group does VA exams and big DOD occupational health events. Information quote from the website below…
“We have administered private occupational health services in support of various federal agencies including the Centers for Disease Control and Prevention (CDC), Federal Occupational Health Service (FOHS), Department of Defense (DoD) and the Veterans Health Administration (VHA). We support a wide variety of customers, including: National Institute for Occupational Safety and Health (NIOSH), U.S. Army Medical Command (MEDCOM), the Army Reserve, Army National Guard, Air Force Reserve, Air National Guard, Army Dental Command, Navy Reserve, Army Corps of Engineers, Coast Guard, Military Sealift Command and other Federal agencies. LHI also supports a number of private sector clients with occupational health services, including four of the Class 1 railroads operating in the United States.”
There is just so much complexity here as there’s other subsidiaries that do things that affect healthcare nationally in a big way, like some of these subs, biometrics, wellness, international benefits, survey analytics with patents, hearing aids, consulting for drug and devices for the FDA and clinical trials , clearinghouse sub to work with Epic medical records, data mining medical information and records, and here, electronic medical records,hospital analytics and software even used by the VA, big contract with Tri-Care where DOD was sued to secure, some additional HMOs in Florida, low & middle income housing in New Mexico, HIE technologies and analytics, some miscellaneous EMR software, coding software, Optum cloud platform to sell software, more analytics with software that helps set up insurance exchanges, an in house pharmacy benefit manager, fraud prevention analytics, and a hospice company.
So in addition to games the platform works with the normal data selling devices and apps you see out there everywhere…and as mentioned there are two former United executives on the board of this company and not the first time United has done this with start ups leaving United and then United opting in to interests or in this case a majority shareholder.
As MobiHealthNews pointed out last month, at least two of Audax’s executives are former UnitedHealth employees. Dogu Celebi and Phil Harker, Audax senior vice presidents for informatics and client development, respectively, both come from divisions of Optum.Optum, a division of the UnitedHealthcare group, has purchased a majority stake in Audax Health Solutions in a deal “which included cash, options, preferred stock, and significant working capital,” according to Audax.
Around the same time, Audax filed a $29 million funding raise with the SEC. It’s likely that Optum’s investment was contained within that round.
The deal will not affect Audax’s existing relationships with customers, even United competitors like Cigna, whose CIO Mark Boxer sits on Audax’s board. Audax told MobiHealthNews in an email those existing relationships would continue.