NEW YORK, Jan. 18, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Surgical Care Affiliates, Inc. (NASDAQ: SCAI) ("SCAI" or the "Company") in connection with the proposed acquisition of the Company by UnitedHealth Group Inc. ("UnitedHealth"). On January 9, 2017, UnitedHealth announced a definitive agreement and plan of merger to combine the operations of its subsidiary OptumCare with SCAI. Under the terms of the agreement, the Company's shareholders will receive $57.00 in cash for each SCAI share they own.
WeissLaw is investigating whether SCAI's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $58.00, or $1.00 above the offer price. Additionally, SCAI recently announced positive financial results, reporting total net revenue of $322.8 million in the third quarter of 2016, representing a growth of 25.2% year-over-year when compared to the $257.8 million reported in the same period of the previous year. Moreover, since 2013 SCAI has increased its revenue an average of 7%. Finally, UnitedHealth's acquisition of SCAI will boost revenue growth and margins for OptumCare by expanding the unit's outpatient capabilities and ensuring high quality outcomes.