Regulators give UnitedHealth green light to buy Brazilian insurer

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.

Author:: BMTN Staff
Publish date:: Oct 24, 2012

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.

UnitedHealth announced its acquisition plans earlier this month.

Last week, UnitedHealth said its third-quarter net income jumped 23 percent and raised its 2012 earnings forecast.

Click here, to follow UnitedHealth Group's stock performance.

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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.

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.

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.

Richfield-based Best Buy Co. Inc. and its founder Richard Schulze have reached an agreement that gives Schulze permission to review the company's financials and form an investment group to finalize an official takeover bid, Forbes reports. If the initial proposal is rejected, Schulze has agreed to wait until January 2013 to pursue his plan to buy the struggling electronics giant. Schulze has 60 days to present a fully financed definitive proposal to Best Buy's Board of Directors.

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 ...

Former UnitedHealth CEO William McGuire is the new owner of the Minnesota Stars, a minor league soccer franchise from the North American Soccer League. The wealthy business leader headed Minnetonka-based UnitedHealth for 15 years.