From Yahoo Finance: 2025-06-09 06:13:00

UnitedHealth Group is considering multiple bids for its Latin American operations after a series of missteps, including the ouster of its CEO and a reported criminal accounting probe. New CEO Steve Hemsley aims to regain shareholder trust after earnings miss and allegations of Medicare fraud.

The company received four non-binding bids for its Banmedica subsidiary in Colombia and Chile, valuing it at about $1 billion. UnitedHealth shares dropped 25.5% in May and is down 40% year-to-date. The company aims to get around $1 billion for Banmedica’s operations in Colombia and Chile.

The company expects to set a deadline for binding proposals as soon as July. Bidders include Acon Investments, Patria Investments, Christus Health, and Auna, with Auna in talks with a financial partner. Banmedica’s annual EBITDA is over $200 million.

UnitedHealth’s failed expansion plans in Latin America led to losses in Brazil and a decision to exit the region. Banmedica, currently profitable, serves over 2.1 million consumers through health insurance programs and has 13 hospitals and 143 medical centers. The company booked an $8.3 billion loss last year related to the sale of its South American operations.

Brazilian investment bank BTG Pactual is advising UnitedHealth on the sale. It’s part of the company’s strategic exit from South American markets due to losses and currency translation effects. UnitedHealth aims to finalize the sale of Banmedica in Colombia and Chile for around $1 billion.



Read more at Yahoo Finance: Exclusive-UnitedHealth eyes $1 billion deal to exit Latin America as insurer refocuses on US, sources say