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UnitedHealth sells its South American unit Banmedica to Patria Investments for $1 billion, completing its exit from Latin America.
UnitedHealth Group has agreed to sell its South American unit Banmedica to Brazilian private equity firm Patria Investments for $1 billion, completing its exit from Latin America after a year of negotiations.
The deal, finalized Saturday, includes operations in Colombia and Chile with 1.7 million members, seven hospitals, and 47 medical centers.
The sale follows previous divestitures in Brazil and Peru, part of a broader retreat that led to an $8.3 billion loss, including $1.2 billion from Banmedica.
The move supports CEO Stephen Hemsley’s turnaround strategy, aimed at restoring growth by 2026 and accelerating in 2027.
UnitedHealth raised its annual profit forecast in October and plans to announce the deal Monday.
UnitedHealth vende su unidad sudamericana Banmedica a Patria Investments por $1 mil millones, completando su salida de América Latina.