NU Online News Service, Sept. 23, 2003, 4:47 p.m. EDT – UnitedHealth Group Inc., Minnetonka, Minn., plans to acquire Golden Rule Financial Corp., Indianapolis, according to Fitch Ratings, Chicago.
A spokeswoman for UnitedHealth declined to comment on reports about the alleged deal.
The Indianapolis Star printed a description of the deal Sept. 18. Fitch says UnitedHealth confirmed the existence of the deal Sept. 19 but would not discuss the terms.
Fitch predicts Golden Rule's total 2003 revenue will be less than 4% of UnitedHealth's total revenue for the year. "Fitch does not expect UnitedHealth's risk profile, liquidity position or financial leverage to be significantly affected by the transaction," the rating service says.
Golden Rule's position in the health insurance market is probably a big attraction for UnitedHealth, Fitch says.
"Golden Rule's solid position in medical savings accounts is also likely of significant interest to UnitedHealth," Fitch says.
