Hopkins, Minn.-based UnitedHealth Group surpassed Wall Street analysts' expectations for the fourth quarter of fiscal year 2016, with its Optum business being a key driver of company growth, according to the Chicago Tribune.
Here are five key points:
1. In Q4, the company's earnings increased 56 percent, compared to Q4 fiscal year 2015.
2. The company's UnitedHealthcare business, which offers healthcare coverage, hit $1.7 billion in 2016, up 79 percent compared to the same period last year. Last year, UnitedHealth had to put money aside to combat significant losses on ACA exchanges.
3. The Optum segment generated the most revenue, which hit $2.3 billion for the quarter.
4. Earlier this month, news broke over Deerfield, Ill.-based Surgical Care Affiliates merging with Optum. Through the partnership, SCA will became a part of Optum's platform, which serves millions of U.S. customers via 20,000 affiliated physicians and hundreds of facilities spanning the nation. SCA is combining with OptumCare, Optum's primary and urgent care delivery services business. OptumCare works with more than 80 health plans.
5. On Jan. 17, 2017, UnitedHealth shares were up 36 percent, compared to the same time last year.