Who Owns Change Healthcare?
Change Healthcare is owned by UnitedHealth Group, a publicly traded American healthcare company founded in 1977. UnitedHealth Group trades on NYSE under ticker UNH and is headquartered in Minnetonka, Minnesota, USA.
Parent Company
UnitedHealth Group
Acquired
2022
Status
Publicly Traded
Headquarters
Minnetonka, Minnesota, USA
Who Owns Change Healthcare?
- Parent Company: UnitedHealth Group
- Ownership Type: Wholly owned
- Acquisition Year: 2022
- Company Type: Publicly Traded
- Stock Ticker: NYSE: UNH
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Change Healthcare | UnitedHealth Group | Wholly owned |
History of Change Healthcare
- Founded: 2013
- Founders: Change Healthcare (acquired by UnitedHealth Group)
- Acquired by UnitedHealth Group: 2022
Change Healthcare was founded in 2013 as a healthcare technology and services company focused on claims processing, payment solutions, and healthcare IT services. The company was created to provide comprehensive technology solutions for healthcare organizations and payers.
Throughout the 2010s, Change Healthcare expanded through strategic acquisitions and organic growth, becoming one of the largest healthcare technology providers in the United States. The company developed comprehensive solutions for claims processing, payment management, and healthcare operations.
UnitedHealth Group acquired Change Healthcare in 2022 for approximately $13 billion as part of its strategy to expand its healthcare technology capabilities and integrate healthcare services. The acquisition allowed UnitedHealth Group to leverage Change Healthcare's technology expertise while integrating the company into its broader healthcare operations.
Following the acquisition, Change Healthcare has been integrated into UnitedHealth Group's operations while maintaining its focus on healthcare technology and services. The company continues to provide comprehensive healthcare IT solutions to healthcare organizations and payers.
Change Healthcare has grown to become a major healthcare technology provider, serving healthcare organizations, payers, and patients across the United States. The company continues to innovate in healthcare technology and expand its service offerings.
About UnitedHealth Group
UnitedHealth Group operates through two primary platforms that work together to deliver comprehensive healthcare solutions: UnitedHealthcare and Optum. This integrated business model enables the company to serve the entire healthcare continuum, from insurance coverage to direct healthcare delivery and technology services, creating synergies that enhance both quality and efficiency.
UnitedHealthcare represents the company's health insurance and benefits division, providing coverage to individuals, employers, and government-sponsored programs including Medicare and Medicaid. In 2025, UnitedHealthcare served 49.8 million consumers and achieved revenues of $344.9 billion, representing 16% growth year-over-year. The division operates through multiple business segments including individual and family plans, employer-sponsored coverage, Medicare Advantage plans, and Medicaid managed care programs.
UnitedHealthcare's success stems from its extensive provider networks, innovative benefit designs, and focus on value-based care models. The company has developed sophisticated approaches to care coordination, preventive health programs, and chronic disease management that improve health outcomes while managing costs effectively. UnitedHealthcare's market leadership position enables it to negotiate favorable terms with healthcare providers and develop innovative insurance products that meet evolving consumer needs.
Optum delivers comprehensive healthcare services and technology solutions through three main segments that support the entire healthcare ecosystem:
Optum Health provides direct patient care and health services, operating clinics, surgical centers, and home health services. The segment employs healthcare professionals including physicians, nurses, and care coordinators who deliver integrated care to patients across various settings. Optum Health focuses on value-based care models that align financial incentives with health outcomes, creating more efficient and effective healthcare delivery systems.
Optum Insight offers data analytics, consulting, and technology services to healthcare organizations, payers, and life sciences companies. The segment leverages UnitedHealth Group's vast healthcare data assets to provide insights that improve clinical outcomes, reduce costs, and enhance operational efficiency. Optum Insight's services include population health management, revenue cycle optimization, and healthcare technology implementation.
Optum Rx manages pharmacy benefits for millions of people, negotiating with pharmaceutical manufacturers and managing prescription drug programs. In 2025, Optum Rx achieved 15% revenue growth, demonstrating strong performance in the pharmacy benefits management market. The segment combines purchasing power with clinical expertise to optimize medication therapy, improve adherence, and manage drug costs effectively.
UnitedHealth Group's integrated business model creates significant competitive advantages. The company's ability to combine insurance coverage with direct healthcare delivery enables better care coordination, improved health outcomes, and more efficient resource utilization. This integration also provides valuable data insights that inform product development, care management programs, and operational improvements.
In 2025, UnitedHealth Group demonstrated exceptional financial performance with consolidated revenues of $447.6 billion, representing 12% growth year-over-year. The company's adjusted earnings from operations reached $21.7 billion, reflecting strong operational execution despite challenges including cyberattack-related costs and business restructuring charges.
The company's financial metrics demonstrate operational efficiency and strong cash generation. UnitedHealth Group achieved cash flows from operations of $19.7 billion in 2025, representing 1.5 times net income. The company maintains a debt-to-capital ratio of 43.9% and targets a long-term ratio of 40.0%, reflecting prudent financial management.
UnitedHealth Group employs approximately 440,000 people worldwide, making it one of the largest employers in the healthcare industry. The company's workforce includes healthcare professionals, technology specialists, data analysts, and business professionals who support the company's integrated healthcare delivery model.
Looking toward 2026, UnitedHealth Group has established revenue guidance greater than $439.0 billion and adjusted earnings outlook greater than $17.75 per share. The company expects to continue its growth trajectory while addressing ongoing challenges including medical cost trends, regulatory changes, and competitive pressures in the healthcare market.
- Founded: 1977
- Headquarters: Minnetonka, Minnesota, USA
- Company Type: Publicly Traded
- Stock: NYSE: UNH
- Revenue: $447.6 billion (FY2025)
- Employees: Approximately 440,000
Where Is Change Healthcare Made / Based?
- Headquarters: Minnetonka, Minnesota, USA
- Manufacturing / Operations: United States
Change Healthcare Sustainability & Ethics
Change Healthcare operates under UnitedHealth Group's comprehensive Environmental, Social and Governance (ESG) framework, which integrates sustainability practices into healthcare technology, claims processing, and payment solutions. UnitedHealth Group has established four sustainability priorities that guide all business operations across its healthcare technology subsidiaries.
Environmental Sustainability: UnitedHealth Group has committed to environmental sustainability initiatives that recognize the impact of climate change on human health. The company is working to minimize its environmental footprint through energy efficiency measures, waste reduction programs, and sustainable building practices. Change Healthcare participates in these initiatives by implementing green data center practices, reducing energy consumption in processing operations, and optimizing logistics for healthcare technology services.
Four Sustainability Priorities: UnitedHealth Group's sustainability program is built on four key priorities: building a modern, high-performing health system, supporting a healthy environment, investing in people and culture, and upholding responsible business practices. These priorities guide the company's approach to environmental stewardship, social responsibility, and ethical business operations across all subsidiaries including Change Healthcare.
Healthcare System Modernization: Change Healthcare contributes to building a simpler, more consumer-oriented health system through its technology solutions and payment processing services. The company's digital transformation initiatives help ensure everyone has access to high-quality, affordable healthcare while reducing administrative burden and improving efficiency in healthcare delivery.
Climate Action and Health: UnitedHealth Group recognizes the direct connection between environmental health and human health outcomes. The company's climate action initiatives include reducing greenhouse gas emissions, implementing renewable energy programs, and developing sustainable healthcare infrastructure. Change Healthcare supports these goals through energy-efficient data centers and sustainable technology solutions.
Social Responsibility: Change Healthcare maintains strong social responsibility programs focused on improving healthcare access and outcomes. The company's technology solutions help reduce healthcare costs, improve patient experiences, and increase healthcare efficiency. UnitedHealth Group's social initiatives include community health programs, healthcare education, and support for underserved populations.
Ethical Business Practices: UnitedHealth Group maintains comprehensive compliance programs and ethical business conduct guidelines across all operations. The company's ethical framework includes strict adherence to healthcare regulations, data privacy protection, and transparent business practices. Change Healthcare operates with strong business ethics in handling sensitive healthcare data and payment processing.
Data Privacy and Security: Change Healthcare implements robust data privacy and security measures to protect sensitive healthcare information. The company's ethical framework includes comprehensive data protection protocols, cybersecurity investments, and regulatory compliance with HIPAA and other healthcare privacy regulations.
Supply Chain Responsibility: UnitedHealth Group maintains strict sustainability requirements for suppliers and vendors across all its business units. The company encourages suppliers to implement sustainable practices, reduce environmental impact, and maintain ethical business standards. Change Healthcare benefits from these comprehensive supply chain sustainability initiatives.
Awards & Recognition
Change Healthcare has received recognition both as a leading healthcare technology company and through UnitedHealth Group's broader corporate achievements in sustainability and healthcare innovation. The company's payment processing and claims management solutions have been acknowledged by healthcare organizations and technology industry publications.
Healthcare Technology Leadership: Change Healthcare has been recognized as one of the largest healthcare payment processing and claims management companies in the United States. The company's comprehensive approach to healthcare technology has been acknowledged by industry publications for innovation in payment solutions and claims processing efficiency.
UnitedHealth Group's Sustainability Recognition: UnitedHealth Group's comprehensive sustainability initiatives have received significant recognition, including acknowledgment for environmental leadership and social responsibility in healthcare. The company's four-priority sustainability framework has been recognized by healthcare organizations for demonstrating that large healthcare companies can achieve meaningful environmental and social improvements.
Digital Transformation Recognition: Change Healthcare has received recognition for its role in healthcare digital transformation and modernization efforts. The company's technology solutions for claims processing and payment management have been acknowledged by healthcare organizations for improving efficiency and reducing administrative burden in healthcare delivery.
Innovation in Healthcare Payments: Change Healthcare has been recognized for innovation in healthcare payment processing and claims management systems. The company's technology solutions have been acknowledged by healthcare technology organizations for improving payment accuracy, reducing processing times, and enhancing the overall healthcare payment ecosystem.
Corporate Responsibility Recognition: UnitedHealth Group has received recognition for its corporate responsibility programs, including community health initiatives and healthcare access programs. The company's commitment to improving healthcare outcomes and supporting underserved communities has been acknowledged by healthcare organizations and advocacy groups.
Technology Excellence: Change Healthcare has received recognition for technology excellence in healthcare IT solutions and payment processing systems. The company's innovative approaches to healthcare technology have been acknowledged by technology industry organizations and healthcare publications.
Healthcare Industry Leadership: UnitedHealth Group's position as one of the largest healthcare companies has been recognized by industry publications for innovation in healthcare delivery and technology. The company's comprehensive approach to healthcare modernization has been acknowledged for advancing healthcare technology and improving patient outcomes.
Change Healthcare Recalls & Controversies
Change Healthcare faced a major cybersecurity incident in 2024 that significantly impacted healthcare operations across the United States. This incident represents one of the largest healthcare data breaches in history and has led to extensive regulatory scrutiny and legal challenges.
Major Cybersecurity Attack: In February 2024, Change Healthcare fell victim to a devastating ransomware attack that disrupted healthcare payment processing and claims management systems nationwide. The cyberattack caused widespread disruption to healthcare providers, pharmacies, and patients who rely on Change Healthcare's services for payment processing and claims management.
Data Breach Impact: The cyberattack resulted in one of the largest healthcare data breaches in history, affecting approximately 100-130 million individuals. By October 2024, Change Healthcare had sent approximately 100 million individual breach notifications, and by January 2025, this number had increased to approximately 130 million. The breach exposed sensitive personal and health information on an unprecedented scale.
Healthcare System Disruption: The cyberattack caused significant disruption to healthcare operations across the United States. Healthcare providers, pharmacies, and patients experienced delays in claims processing, payment issues, and administrative challenges. The disruption affected the ability of healthcare organizations to process payments and manage claims efficiently, creating financial strain for many healthcare providers.
Regulatory Investigation: The U.S. Department of Health and Human Services Office for Civil Rights (OCR) launched an investigation into the breach. OCR's unprecedented proactive announcement of its investigation in March 2024, initiated before Change Healthcare had even reported the breach, underscored the scale and widespread impact of the cyberattack.
System Restoration: Change Healthcare worked to restore systems gradually, with approximately 80% of functionality restored on major platforms and products by April 2024. The company expected full restoration of other systems to be completed in the following weeks, though the complete recovery process took several months.
Legal Challenges: The cyberattack led to numerous lawsuits filed against Change Healthcare and UnitedHealth Group. Healthcare providers, patients, and other affected parties filed litigation seeking compensation for damages resulting from the disruption and data breach. The company faced challenges defending multiple cases across various judicial districts.
Industry-Wide Impact: The Change Healthcare breach highlighted vulnerabilities in healthcare technology infrastructure and prompted increased focus on cybersecurity across the healthcare industry. The incident led to calls for improved cybersecurity standards, better data protection measures, and enhanced incident response protocols in healthcare technology.
Financial Impact: The cyberattack and its aftermath resulted in significant financial costs for UnitedHealth Group, including system restoration expenses, regulatory fines, legal fees, and potential settlements. The company allocated substantial resources to address the breach and improve cybersecurity measures.
Brands Owned by UnitedHealth Group
- UnitedHealthcare - UnitedHealth Group's health insurance brand providing coverage for individuals, ...
Change Healthcare Ownership: Pros & Cons
Advantages
- +Comprehensive healthcare technology and services platform
- +Advanced claims processing and payment solutions
- +Integration with UnitedHealth Group operations
- +Strong financial resources and investment capacity
- +Leading position in healthcare technology market
- +Extensive healthcare IT infrastructure
Considerations
- -Regulatory scrutiny over healthcare technology and data
- -Complex healthcare technology integration challenges
- -Balance between profit motives and healthcare quality
- -Competition from other healthcare technology providers
- -Healthcare policy changes affecting operations
- -Data security and cybersecurity considerations
Frequently Asked Questions About Change Healthcare
Sources & Further Reading
- Change Healthcare Official Website -
- UnitedHealth Group Official Website -
- UnitedHealth Group Sustainability Report -
- HHS: Change Healthcare Cybersecurity Incident FAQ -
- UnitedHealth Group Cyberattack Updates -
- U.S. Department of Health and Human Services -
- Healthcare Information and Management Systems Society -
- American Health Information Management Association -
- Healthcare Cybersecurity Industry Resources -
- National Institute of Standards and Technology -
- Healthcare Financial Management Association -
- American Medical Association -
- Cybersecurity & Infrastructure Security Agency -
Where to Buy
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Change Healthcare on AmazonCompetitors to Change Healthcare
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Good Rx | USA | 2011 | Mass market | Global | All-ages | |
| Mckesson | USA | 2001 | Mass market | Global | All-ages |
Learn More About Competitors
GoodRx
Owned by Unknown Company
American healthcare technology platform providing prescription drug price comparison, discount coupons, and telehealth services to help consumers find affordable healthcare options.
McKesson Provider Technologies
Owned by McKesson Corporation
Healthcare IT and software solutions provider offering electronic health records, pharmacy management systems, and clinical decision support owned by McKesson Corporation.
Competitive Analysis
Market Positioning: Change Healthcare competes with 2 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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