Unh stock options backdating
On January 13, 2009, Ingenix announced an agreement with the New York State attorney settling the probe into the independence of the health pricing database.
Under the settlement, United Health Group and Ingenix would pay million to finance a new, non-profit entity that would develop a new health care pricing database.
In March 2007, United Health Group signed a definitive agreement to acquire Sierra Health Services Inc. Sierra provided health benefits and services to 310,000 members in Nevada and another 320,000 people in senior and government programs throughout the United States.
As a condition of approval from the Department of Justice, United Health Group was required to divest its individual Secure Horizons Medicare Advantage HMO plans in Clark and Nye Counties, which represent approximately 25,000 members.
The firm decided to refocus its UK business solely on commissioning support under the name of Optum, and exploit the opportunities presented by the United Kingdom Government's NHS reforms in 2011.
Towards this end, it sold its six primary care clinics.
United Health Group is the largest healthcare company in the world by revenue 4 billion in 2016. Power and Associates gave United Healthcare the highest employer satisfaction rating for self-insured health plans.
In 1974, Richard Taylor Burke founded Charter Med Incorporated, a Minnetonka, Minnesota-based privately held company.
In 1977, United Health Care Corporation was created to reorganize the company and become the parent company of Charter Med.
Major shareholders have filed lawsuits accusing former New Jersey governor Thomas Kean and UHC's other directors of failing in their fiduciary duty. Mc Guire was forced to resign, and relinquish hundreds of millions of dollars in stock options.
On December 6, 2007, the SEC announced a settlement under which Mc Guire will repay 8 million, as a partial settlement of the backdating prosecution.