UnitedHealth Group has agreed to sell its last South American business, Banmedica, to Brazilian private‑equity firm Patria Investments for approximately $1 billion. The transaction, signed on Saturday, November 29, 2025, marks the company’s complete withdrawal from the Latin American market and is expected to close in the first quarter of 2026.
Banmedica operates in Chile and Colombia, serving 1.7 million health‑plan members through seven hospitals and 47 medical centers as of June 2025. The sale follows UnitedHealth’s earlier divestitures of its Brazil and Peru operations, and the company recorded an $8.3 billion loss last year from its South American activities, with $7.1 billion tied to Brazil and $1.2 billion linked to Banmedica.
The divestiture is a key component of UnitedHealth’s turnaround strategy under CEO Stephen Hemsley, who returned in May 2025. By exiting non‑core international markets, the company can concentrate resources on its high‑margin U.S. operations and reduce exposure to currency volatility, regulatory uncertainty, and competitive pressures that have eroded profitability in Latin America.
The $1 billion cash infusion will be earmarked for margin‑recovery initiatives and debt‑reduction plans, supporting UnitedHealth’s broader effort to strengthen its balance sheet. The company has already raised its annual profit outlook in October 2025 and expects to return to growth in 2026, with a projected acceleration into 2027.
Investors have responded cautiously to the announcement, citing concerns about the company’s recent financial losses and the strategic shift away from international markets. The sale is viewed as a necessary step to streamline operations and restore confidence in UnitedHealth’s core business.
UnitedHealth’s exit from Latin America underscores a broader industry trend of large conglomerates divesting non‑core assets to focus on core markets. The transaction positions the company to better manage risk, improve operational leverage, and accelerate its long‑term growth strategy in the United States.
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