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Genoa reportedly will be acquired

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NEW YORK — UnitedHealth has tentatively agreed to buy Genoa Healthcare from private equity firm Advent International, according to a report.

Under the terms of the deal, Genoa chief executive officer John Figueroa would leave the mental health center pharmacy operator, with chief commercial officer Mark Peterson taking the reins, according to the report in Axios, which cited an anonymous source. A Genoa spokeswoman said she could not confirm a deal.

Bloomberg reported earlier that Advent has held talks with prospective buyers, including Walgreens Boots Alliance. The Bloomberg story, which cited “people familiar with the matter,” said Genoa could be worth some $2.5 billion.

Boston-based Advent has invested about $40 billion in over 300 private equity deals since 1989. It took a stake in Genoa three years ago for an undisclosed sum, alongside such existing shareholders as private equity firm Nautic Partners.


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