UnitedHealth Group received multiple bids for Latin American operations
Investing.com -- UnitedHealth Group (NYSE:UNH) is considering several offers for its Latin American operations, according to a Reuters report on Monday. The move comes as the largest U.S. health insurer faces challenges that include the departure of its CEO and an alleged criminal accounting investigation.
The insurer has been attempting to leave Latin America since 2022, with the sale of its Banmedica subsidiary becoming more urgent in recent months due to increasing pressures on multiple fronts, the report said.
So far, UnitedHealth has reportedly received four preliminary bids for Banmedica, which operates in Colombia and Chile, with an estimated value of about $1 billion.
In May, UnitedHealth's shares dropped 25.5%, and the year-to-date decline stands at 40%. The company withdrew from Brazil in 2023 and from Peru in March 2025. It aims to secure around $1 billion for Banmedica's operations in Colombia and Chile.
The company anticipates setting a deadline for final proposals as early as July. The bids reportedly include offers from Washington, D.C.-based private equity firm Acon Investments, Sao Paulo-based private equity firm Patria Investments, Texas non-profit health organization Christus Health, and Lima-based healthcare and insurance provider Auna. The report mentioned that Auna is currently in discussions with a financial partner.
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