In this edition:

• ✈️ UPMC leased private jet then laid off hundreds

• 🤝 Amedisys and UnitedHealth get closer to deal

• 📊 Experts warn of Private Equity in Cardiology

• 🚫 Optum backs out of Steward Health deal

• And more!

UPMCs private jet stirs controversey

Action News Investigates has learned UPMC started using a new $50 million corporate jet less than a year before announcing 1,000 layoffs.

UPMC officials said the jet is an efficient way to conduct business. They have leased a similar jet in the past. However, some nurses dealing with staff shortages said they were outraged not only by the jet but also by UPMC paying millions to its former CEO.

According to the flight tracking site JetSpy, UPMC started leasing the 2023 Bombardier Global 6500 in May 2023. UPMC did not disclose the cost of leasing the plane. According to Bombardier, the jet seats up to 17 passengers and can fly up to 6,600 nautical miles.

JetSpy records show UPMC has used the jet for 90 flights since May 2023, flying to Ireland, Italy, and Croatia, where the health care giant owns hospitals. The records also show flights however to cities where they have no business.

Amedisys and UnitedHealth near end

UnitedHealth Group Incorporated and Amedisys, Inc.’s AMED $3.3 billion merger is set to close in the second half of 2024, with Amedisys becoming a wholly-owned subsidiary of UnitedHealth. Both companies are divesting certain care centers to VitalCaring Group’s affiliate VCG Luna, to satisfy federal antitrust regulators.

This move, announced recently by Amedisys in a filing with the U.S. Securities & Exchange Commission, is expected to streamline the merger process and maintain compliance with regulatory requirements.

By selling these assets, the companies aim to avoid potential monopoly issues and ensure a smoother merger process. As stated in the filing, the finalization of the divestment agreement hinges on the successful completion of the UnitedHealth deal.

Further financial details of the move are yet to be disclosed. UNH business Optum submitted a full-cash proposal to combine with Amedisys in June 2023. Optum’s expertise in value-based care and Amedisys’ care and quality innovation within the home were expected to drive better health outcomes at lower costs and improve patient care continuity.