UnitedHealth unit hack may hit pharmacies, providers’ credit profiles, Fitch says
© Reuters. FILE PHOTO: The corporate logo of the UnitedHealth Group appears on the side of one of their office buildings in Santa Ana, California, U.S., April 13, 2020. REUTERS/Mike Blake/File Photo
(Reuters) – Ratings agency Fitch said on Monday the recent cybersecurity incident at UnitedHealth Group (NYSE:)’s technology unit, Change Healthcare (NASDAQ:), could negatively affect credit profiles of smaller healthcare providers and pharmacies that use its services.
Change Healthcare was hit by a cyberattack on Feb. 21 and had a knock-on impact across the country’s healthcare system that depends heavily on insurance.
Fitch said it was assessing the degree of impact on smaller pharmacies and healthcare providers’ cash flows following the cyberattack.
It was also assessing the adequacy of existing sources of liquid capital available to these firms, the agency added.
