UnitedHealth to buy 90% of Brazilian insurer for $4.9B

Minnetonka-based UnitedHealth Group Inc. is acquiring a 90 percent stake in Amil Participacoes SA, based in Rio de Janeiro, the Associated Press reports. The largest U.S. health insurer has agreed to pay about $4.9 billion in cash to complete the deal.

Author:
BMTN Staff
Updated:
Mar 8, 2018
Original:
Oct 8, 2012

Minnetonka-based UnitedHealth Group Inc. is acquiring a 90 percent stake in Amil Participacoes SA, based in Rio de Janeiro, the Associated Press reports. The largest U.S. health insurer has agreed to pay about $4.9 billion in cash to complete the deal.

Amil is Brazil’s biggest managed- care company covering 5.9 million people last year with medical and dental plans, Bloomberg reports.

“Brazil has emerged as a consistently growing and evolving market for private sector health benefits and services,” UnitedHealth’s CEO, Stephen J. Hemsley, said in a statement, according to The New York Times.

UnitedHealth also says it expects third-quarter profits to be about 16 percent better than analysts expected, the Business Journal writes. The insurer will release its third-quarter report Tuesday, Oct. 16.

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Regulators in both Brazil and the United States have approved UnitedHealth Group's plan to buy a major stake of Amil Participacoes, an operator of hospitals and clinics that is also Brazil's biggest managed-care company, Bloomberg reports. The Minnetonka-based health insurer agreed to pay about $4.9 billion for the 90 percent stake in the company.

Minnetonka-based UnitedHealth Group's third-quarter net income jumped 23 percent, beating expectations, as preparations for retiring Baby Boomers started to pay off for the nation's largest health insurer, the Associated Press reports. UnitedHealth also raised its 2012 earnings forecast.

The Minnetonka-based health insurer has agreed to share more information with federal regulators to root out illicit Medicare billings. UnitedHealth EVP Richard Migliori said, “There are mutual interests here in doing a better job at detecting what’s probably some $80 billion-plus per year in fraudulent payments across private and public sectors." WellPoint Inc and Humana Inc are also participating in the partnership.

The largest U.S. health insurer is increasing its quarterly dividend by more than 30 percent and authorizing a new plan to buy back 110 million shares. Minnetonka-based UnitedHealth Group says the actions reflect solid growth across its enterprise.

The Minnetonka-based health insurer brought in more than $100 billion last year. The Star Tribune reports UnitedHealth is among just 22 publicly traded companies and the first in Minnesota to reach that milestone. Read more ...

Rising enrollments for Medicare and Medicaid plans helped boost Minnetonka-based UnitedHealth Group in the second-quarter. The biggest U.S. health insurer says net income rose 5.5 percent to trump Wall Street expectations.

The Dow Jones industrial average is sticking a fork in Kraft Foods. Minnetonka-based insurer UnitedHealth Group will replace the lunch meat maker in the 30-stock index, the most widely known barometer of the U.S. stock market.

Minnetonka-based UnitedHealth, the nation's largest health insurer, told the Associated Press it plans to keep and extend some provisions of the federal health-reform legislation regardless of whether the law is overturned. The U.S. Supreme Court is expected to issue a ruling later this month on the law's constitutionality.

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