US EditionUnitedHealth eyes $1 billion deal to exit Latin America as insurer refocuses on US: Reuters
- UnitedHealth plans to set a deadline as soon as July to receive binding proposals for selling Banmedica, its Latin American unit operating in Colombia and Chile.
- The sale follows UnitedHealth's strategic exit from Latin America that began in 2022, including divestment from Brazilian operations in late 2023 due to significant losses.
- Banmedica provides health insurance to over 2.1 million customers and operates through a system that includes 13 hospitals and 143 medical facilities, maintaining profitability with an annual EBITDA exceeding $200 million.
- UnitedHealth reported a total loss of $8.3 billion in the previous year due to its decision to sell South American operations, including a $1.2 billion loss tied to Banmedica, while new CEO Steve Hemsley committed to regaining shareholder confidence amid an ongoing criminal investigation.
- The imminent sale of Banmedica for around $1 billion could accelerate UnitedHealth's refocus on the US market amid multiple challenges and share declines of 25.5% in May.
8 Articles
8 Articles
Almost a year after the United Health Group (UHG), the largest health insurance group in the world, sold its operations in Latin America, four firms would be in negotiations to acquire part of these operations. A sale that includes Banmédica Companies, a company that in Chile has the largest network of clinics in the country, along with two isapres.UnitedHealth already left Brazil in 2023 and Peru in March of this year. Thus, its goal is to obta…
UnitedHealth eyes $1 billion deal to exit Latin America as insurer refocuses on US, sources say
UnitedHealth Group is weighing multiple bids for its Latin American operations, according to two people with direct knowledge of the matter, as the insurer buckles down after a series of unprecedented missteps that include the ouster of its CEO and a reported criminal accounting probe.
The United Health Group is looking for ways out of the crisis. After the annual targets have been cancelled and the CEO has been replaced, the US insurer is putting more pressure on the sale of the Latin America business, which was planned for a long time. Apparently, interested parties have already submitted initial offers for the Banmedica subsidiary. The post Kriselnde United Health pushes sales plans for Latin America business first appeared…
UnitedHealth hopes to sell its Banmedica subsidiary for $1 billion.
Coverage Details
Bias Distribution
- 67% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
