Mergers & Acquisitions
The five-year-old Illinois company offers digital health content middleware in the form of APIs used by Microsoft, MDLive and others.
Arguments against the merger were insufficient to undermine the settlement agreement reached by the Department of Justice, judge says.
The transaction is expected to be complete in early 2020 following approval by Total Health Care members and state officials.
This comes amidst a market shift from fee-for-service toward value-based payments based on quality.
The new organization, yet to be named, will be one of the largest nonprofit health organizations in Massachusetts and the surrounding region.
It could be several months before the deal is finalized, though the agreement itself is projected to be completed this fall.
CVSHealth continues to make inroads into traditional healthcare, with HealthHUBS in 1,500 locations by 2021.
Despite the robust quarter, none of the transactions were considered "mega-deals," valued at $5 billion or more.
Judge Richard Leon says the merger potentially has "grave consequences for millions of people."
The court case for the DOJ-approved merger drags on 8 months after companies closed the deal.