UnitedHealth's Optum Sells Florida WellMed Stake to TPG

M&A · PartnershipCorporate Action
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Summary · why it matters

UnitedHealth Group's Optum has sold an interest in its Florida WellMed clinics to private equity firm TPG and entered a strategic partnership with the firm, according to Bloomberg. The clinics will remain in Optum's network and continue serving patients, while TPG is expected to add local focus, technology investments and operating capabilities to help the Florida business grow faster. CFO Wayne DeVeydt said the goal was not to raise cash but to find a partner that could work with the company locally. Optum acquired WellMed back in 2011, and UnitedHealth opens about 15 clinics in Florida each year. TPG also acquired Optum UK, another UnitedHealth subsidiary, earlier in 2026. Optum Health generated $102 billion of revenue in 2025, down 3% year over year, with operating margins below zero, and management now expects margins of about 2% in 2026, roughly 4% in 2027 and 6% in 2028. UnitedHealth's second-quarter medical care ratio was 86.7%, improving 270 basis points from the year-ago period, while peers Humana and Elevance Health both saw their second-quarter 2026 ratios deteriorate year over year.

Impact on stocks 4

Aging Population▲ · 2 stocks
UnitedHealth Group Incorporated
UNH
▲ PositiveCapitalrelevance

Optum sold a WellMed stake to TPG and partnered with it to accelerate Florida growth, while Optum Health margins are guided to recover from below zero to ~2% in 2026.

Financials▲ · 1 stocks
TPG Inc
TPG
▲ PositiveCapitalrelevance

TPG acquired a stake in Optum's Florida WellMed clinics and formed a strategic partnership, expanding its healthcare investments.

Health Care▲ · 1 stocks

Off-coverage companies 1

Optum UKPrivate± Mixed
Capitalrelevance

Noted that TPG also acquired Optum UK earlier in 2026, a prior transaction rather than the focus of this news.

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