UnitedHealth Group Inc. will spend about $4.9 billion to buy a majority stake in a Brazilian health benefits and care provider, as the largest U.S. health insurer leaps into an international market it says is primed for growth.
UnitedHealth, based in Minnetonka, Minn., said Monday that it will pay cash for about 90 percent of the outstanding shares of Amil Participacoes SA. The Brazilian company provides health and dental benefits and runs a care delivery network that includes 22 hospitals, about 50 clinics. It serves more than 5 million people.
UnitedHealth currently operates in 70 countries, and its services include expatriate coverage for people living outside their home countries. But company spokesman Don Nathan said it had only a "very small" presence in Brazil before this deal.
The insurer's international operations also represent a relatively minor slice of UnitedHealth's total business, which is largely focused in the United States. UnitedHealth revenue totaled $101.9 billion last year. Nathan declined to say how much of that came from international markets.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
