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Nossaman LLP

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Structuring Monarch HealthCare Acquisition to Maintain Its Independence

Nossaman successfully represented long-time client Monarch HealthCare in its acquisition by OptumHealth, a unit of UnitedHealth Group Inc., in a complex transaction that allowed Monarch's management team, including its Board of Directors, to remain in place despite Monarch's ownership being acquired by OptumHealth. As a result of the acquisition, which included a number of innovative structures and features, Monarch became part of a larger, stronger network in Southern California while maintaining its ability to carry out the company's objective of preserving the independent practice of medicine. As part of the transaction, we negotiated an unusual provision (for a privately-owned seller) for these types of deals pursuant to which Monarch would have been able to terminate the deal if a stronger offer was presented prior to closing.

The acquisition of Irvine, Calif.-based Monarch is intended to strengthen its competitive position in Southern California by providing it with greater technological resources, clinical tools, and access to increased capital to support its network of approximately 2,300 IPA physician providers.  OptumHealth previously acquired interests in two smaller Southern California groups, AppleCare Medical Group and Memorial HealthCare Independent Practice Association.

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