Becker's Healthcare October 22, 2024
Change Healthcare continues to see business disruption from the February cyberattacks as its leadership team aims to modernize the technology platform and win back customers.
In an Oct. 15 earnings call, John F. Rex, president and CFO of UnitedHealth Group said the company estimates business disruption costs will be $0.10 per share higher than originally expected, hitting $0.75 per share or $2.87 billion. The disruption includes lost revenue, lost customers, recovery efforts and costs of keeping the company’s capabilities fully functional.
“We expect to continue to build back the business to pre-attack levels over the course of ’25 and estimate next year’s full-year impact will be roughly half of the ’24 level,” said Mr. Rex, as transcribed by The Motley...
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