Dec 17, 2018

DaVita lowers purchase price of medical group by $560 million

DaVita still hasn't sold its medical group. Photo: RJ Sangosti/The Denver Post via Getty Images

UnitedHealth Group will now pay $4.34 billion for DaVita's medical group, $560 million less than the original purchase price announced last year, DaVita said in a regulatory filing today.

Why it matters: DaVita, a dominant provider of dialysis treatment, lowered the price due in large part to deteriorating financials within the physician business. The Federal Trade Commission has still not signed off on this deal, and DaVita wants to close the deal to offset growing debt, as it prepares for federal changes to commercial insurance for dialysis.

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Shane Savitsky

1 min ago - World

Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

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Courtenay Brown, Felix Salmon

Updated 35 mins ago - Economy & Business

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

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