UnitedHealth Group close to buying Helios for about $1.6 billion

Health Insurer UnitedHealth Group Inc (UNH.N) is nearing a deal to buy Helios for more than $1.6 billion, according to a source familiar with the matter.
The takeover of Helios, which is owned by Kelso & Company and Stone Point Capital LLC, could be announced as early as this week, Bloomberg reported earlier on Wednesday, citing people with knowledge of the matter.
No decision has been made and the talks may fall apart, Bloomberg said.
Based in Memphis, Tennessee, Helios provides workers' compensation and pharmacy benefit management to some of the largest U.S. insurers and third-party administrators. It manages more than 7 million prescriptions annually.
A takeover of Helios would follow UnitedHealth's recent $12.8 billion acquisition of Catamaran Corp in an attempt to boost its pharmacy benefit business.
UnitedHealth declined to comment and Helios could not be reached immediately for comment outside regular business hours.