Merger Update: UnitedHealth / EMIS

Merger reference decision announced:

On 17 March 2023, the CMA decided that it was or may be the case that the following Merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom (the SLC Decision).

Anticipated acquisition by UnitedHealth Group Incorporated of EMIS Group Plc

Pursuant to section 73A(1) of the Enterprise Act 2002 (the Act), UnitedHealth Group had until 24 March 2023 to offer an undertaking to the CMA that might be accepted by the CMA under section 73(2) of the Act. On 24 March 2023, UnitedHealth Group offered undertakings to the CMA (the Proposed Undertaking).

After examination of the Proposed Undertaking, the CMA does not believe that it would achieve as comprehensive a solution as is reasonable and practicable to the SLC identified in the SLC Decision and the adverse effects resulting from that SLC. Accordingly, the CMA has decided not to exercise its discretion under section 73(2) of the Act to accept undertakings in lieu of reference. Therefore, pursuant to sections 33(1) and 34ZA(2) of the Act, the CMA has decided to refer the Merger to its chair for the constitution of a group under Schedule 4 to the Enterprise and Regulatory Reform Act 2013 to conduct a phase 2 investigation.

The text of this decision will be placed on the Competition and Markets Authority's website at https://www.gov.uk/cma-cases as soon as is reasonably practicable.

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