UnitedHealth Evaluates Bids to Exit Latin American Operations
UnitedHealth Group is actively reviewing four nonbinding bids for its Banmédica subsidiary, aiming to secure approximately $1 billion from the sale. The Latin American operations, spanning Colombia and Chile, have been a financial burden, with losses exceeding $8 billion since 2022. Private equity firms Acon Investments and Patria Investments, alongside health entities Christus Health and Auna, are among the prospective buyers.
The divestment push coincides with broader struggles for UnitedHealth, including soaring medical costs and a 40% stock decline this year. CEO Andrew Witty''s abrupt departure in May further underscores the company''s turbulent phase. This MOVE signals a strategic retreat from underperforming markets as the insurer seeks to stabilize its core business.