UnitedHealth Group has completed the first step in its $4.9 buyout of Brazil’s biggest health benefits provider, Amil Participações S.A.
The Minnesota health giant with Hartford operations said Brazilian regulators last week approved UnitedHealth buying up some 60 percent of Amil’s outstanding stock from controlling stockholders and management.
UnitedHealth says it will now focus on its tender offer to purchase the 30 percent of Amil shares held by public shareholders.
Amil Chairman and CEO Edson Bueno, M.D., will take a seat on UnitedHealth’s board of directors.
Amil is Brazil’s largest health care company, providing health and dental benefits, hospital and clinical services, and advanced care management resources to more than five million people. Outside the United States, Brazil is the largest and fastest growing private health care market in the Americas.
