UnitedHealth Group trounced first-quarter expectations even as costs from a cyberattack to its Change Healthcare business ate into the company’s performance.
The health care giant also said Tuesday that care patterns in the year’s first quarter met its expectations after soaring medical costs at the end of last year surprised Wall Street.
Company shares jumped in midday trading.
UnitedHealth said earlier this year that a ransomware group had gained access to some of the systems of its Change Healthcare business, which provides technology used to submit and process insurance claims. The attack disrupted payment and claims processing around the country, stressing doctor’s offices and health care systems.
Federal civil rights investigators are looking into whether protected health information was exposed in the attack.
UnitedHealth is still restoring several services from the February attack. It took an $872 million hit from it in the first quarter, but CEO Andrew Witty told analysts on Tuesday that the company expected to bring Change Healthcare back “much stronger than it was before.”
Target to lower prices on basic goods in response to inflation
'Callous' crook who pretended to be an 82
The Montreal Canadiens have exercised the option on coach Martin St. Louis' contract
The OTHER glamorous aide supporting Trump at his trial: Meet his golf partner Natalie Harp
Sweden beats France, Britain relegated after losing to Norway at hockey worlds
You could miss out on the dream of retiring to Spain
Minnesota toddler dies after fall from South Dakota hotel window
Gujarat crashes to 89 all out against Delhi, loses IPL game by 6 wickets at home
Yvette Fielding says her Most Haunted co
How the US failed to stop a Cambodian monkey ‘smuggling conspiracy’ — Radio Free Asia
Iran helicopter crash that killed President Raisi could reverberate across the Middle East
Plane passenger lifts the lid on WILD conspiracy theories surrounding Denver airport