UnitedHealth Group shares fell about 2.5% after the company sold an interest in part of its Optum Health business in Florida to private equity firm TPG. The transaction involves operations linked to WellMed, which runs senior-focused primary-care clinics, and financial terms were not disclosed. Chief Financial Officer Wayne DeVeydt said the arrangement was intended to bring additional local expertise rather than provide funding, and that working with TPG could allow the clinic network to expand faster. The deal comes as UnitedHealth seeks to improve performance at Optum Health, which contributed to weaker profits last year; DeVeydt said the division is expected to produce a 2% margin this year and a 4% margin next year. TPG had $326.8 billion in assets under management and $76.2 billion in available capital at the end of the second quarter.
UnitedHealth Group IncorporatedUnitedHealth sells stake in Optum Health, leading to share decline and highlighting ongoing margin challenges.
TPG IncTPG acquires stake in Optum Health business, expanding its healthcare portfolio.
