UnitedHealth sells off last South American unit in $1B deal with Patria

UnitedHealth Group has agreed to sell its final South American business — Banmédica S.A. — to Brazilian private‑equity firm Patria Investments Ltd for US$1 billion, according to sources familiar with the matter. The deal was signed on Saturday, and a public announcement is expected soon. Banmédica operates in Colombia and Chile, serving 1.7 million health‑plan members and running seven hospitals and 47 medical centers as of June. This sale completes UnitedHealth’s long‑running exit from Latin America, after earlier divestments in Brazil and Peru. The divestment comes as part of a broader turnaround plan under CEO Stephen Hemsley — who returned to the helm in May — aimed at refocusing the company, restoring growth by 2026, and accelerating gains in 2027. Last year’s South‑American withdrawal cost UnitedHealth about US$8.3 billion in losses, with around US$7.1 billion attributed to its Brazil operations and US$1.2 billion tied to Banmédica. #SlimScan #GrowthStocks #CANSLIM