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.

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