Market Chatter: UnitedHealth Sells Stake in Florida Optum Health Operations to TPG

MT Newswires Live16:23

UnitedHealth Group (UNH) sold an interest in some of its Optum Health operations in Florida to private equity firm TPG (TPG), Bloomberg reported Wednesday.

The report said UnitedHealth has been restructuring Optum Health after a sharp profit decline last year, when higher medical costs and changes in federal payments pushed the division's margins into negative territory.

The partnership covers Optum's WellMed clinics, which provide care mainly to older adults, Bloomberg said.

UnitedHealth is opening about 15 clinics a year in Florida and the partnership will allow the business to invest and expand faster, the report added.

UnitedHealth Group and TPG did not immediately respond to MT Newswires' request for comment.

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