u/Pizza-Beans-

UnitedHealth Group Centi-Millionaire Keith G. Myers / Family Foundation / Horse Farm

This is the 2nd in a series to expose those who made a fortune when UnitedHealth Group acquired their company. The goal is to associate these individuals with UnitedHealth Group.

Optum (owned by UnitedHealth Group) acquired home health giant LHC Group for $5.5 billion, co-founder Keith G. Myers pocketed a massive portion of the equity payout as one of its largest individual shareholders. As part of the merger transition, Keith also secured a $5.5 million sign-on bonus alongside a $550,000 baseline salary to stay on as CEO Emeritus. 

Keith has an estimated net worth between $182 million and $289 million.

Keith and his wife Ginger founded the Keith And Ginger Myers Family Foundation. I have been going through the foundation's public 990-PF form. The address associated with that public form under Part XIV is Coteau Grove Farms. A very exclusive horse farm, including Elfin Queen, the daughter of Triple Crown Winner Justify, which Keith and Ginger acquired Elfin Queen for $550k.

The Keith And Ginger Myers Family Foundation donates to 3 causes, Ul Lafayette Foundation INC ($472k), University of Louisville Foundation INC ($17k) and the third one is an individual who has received $4.3 million in 2023 to 2024. Philanthropy.org lists those three here.

I have looked high and low and I can't find who in the world the individual is who received $4.3 million from them. Under Part XIV of the public 990-SF form where it should show all of the donations made it just says "SCHEDULE ATTACHED, VARIOUS" There's no mention of the $4.3 million individual. Which should be about $2.1m to 2.2m per year, and that amount is listed.

Are there any tax accountants who can take a look at their 990 form? Who is the mystery individual who received $4.3 million over two years?

reddit.com
u/Pizza-Beans- — 8 days ago

UnitedHealthcare Centi-Millionaire Mark A. Thierer

This is the first in my series to expose those who made hundreds of millions or billions when their company was acquired by UnitedHealthcare.
Mark Thierer was Chairman and CEO of Catamaran, a major pharmacy benefit manager (PBM).

In 2015, UnitedHealth Group acquired Catamaran for approximately $12.8 billion and combined it with OptumRx, UnitedHealth Group’s pharmacy-benefits business. SEC records show that UnitedHealth specifically asked Thierer to become CEO of the combined OptumRx/Catamaran organization. Securities and Exchange Commission

Mark made between $12.4 and $16.3 million in annual compensation. There's a big number associated with the 2015 UnitedHealth acquisition: Catamaran's merger proxy estimated Thierer's potential change-in-control/"golden parachute" compensation at approximately $49.1 million, including about $39.45 million in equity and $9.6 million in cash. There are no public records I can find of how much he made from the $12.8 billion acquisition.

He then served as CEO of OptumRx from July 2015 to September 2017, overseeing Optum's pharmacy care services. CloudFront

Optum and UnitedHealthcare are the two principal businesses within UnitedHealth Group: UnitedHealthcare is primarily the insurance/health-benefits side, while Optum encompasses care delivery, pharmacy services, technology and other health services. UnitedHealth Group

Thierer subsequently left OptumRx. Today his biography lists him as CEO of EVERSANA, managing partner of AssetBlue Investment Group, and an executive advisor to Water Street Healthcare Partners. It will be interesting to see if UnitedHealthcare acquires Eversana in the future.

Mark founded the Thierer Family Foundation. I went through the foundation's public 990 form which you can view here.

I'm not a tax accountant so maybe some of you can take a look at it. It is funded with shares of UnitedHealth Group valued at $1,863,082.00

Of the 13 non-profits listed only one is healthcare related.

In my opinion I don't think that family foundation is generous. If you weigh the harm UnitedHealthcare has down against donating to a few organizations. It's common for these folks to form a family foundation and try to create a glossy polished image. What do you think?

reddit.com
u/Pizza-Beans- — 10 days ago