UnitedHealth Group (NYSE: UNH) and Amil Participações S.A. (BM&FBOVESPA: AMIL3) announced today that the companies have completed the first phase of their combination. The combination is expected to create a new growth platform for UnitedHealth Group’s benefits and services companies and will enable Amil to bring advanced technology, a tradition of consumer-focused innovation, modern service and clinical programs to further advance health care in Brazil.
Regulatory approval of the transaction was granted by the Brazilian Healthcare Regulatory Agency, ANS, on October 22. UnitedHealth Group has now purchased approximately 60 percent of Amil’s outstanding shares from controlling shareholders and management. The transaction is slated to be finalized in the first half of 2013, following a UnitedHealth Group tender offer to purchase the 30 percent of Amil shares held by public shareholders. Edson Bueno, M.D., chairman and chief executive officer of Amil, will be joining UnitedHealth Group’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.
UnitedHealth Group is the leading health benefits and services company in the United States and a leader in innovative approaches to improving consumer health and advancing the health care system.Combining Amil, the market leader in Brazil, serving an under-penetrated, rapidly expanding market of nearly 200 million people, with UnitedHealth Group’s diversified and deep experiences and capabilities is expected to create a compelling growth and value creation opportunity for the combined enterprises. About Amil Amil Participações S.A. is the largest healthcare organization in Brazil, according to the Brazilian managed care regulator (ANS), currently assisting more than 5 million people in the states of São Paulo, Rio de Janeiro, Paraná, Minas Gerais, Pernambuco, Bahia, Rio Grande do Norte and the Distrito Federal. The Company has the largest provider network in the country, including over 44,000 physicians; 3,300 hospitals; 11,000 outpatient facilities; and 12,000 laboratories and diagnostic imaging centers. Amil also owns one of the largest private hospital networks in Brazil, with 22 hospitals and 2 others under construction. Amil, which began its activities in 1978, offers a wide range of healthcare and dental plans for small, medium and large companies, as well as plans for individuals from all income segments, offering its members access to carefully selected healthcare service providers. About UnitedHealth Group UnitedHealth Group (NYSE: UNH) is a diversified health and well-being company dedicated to helping people live healthier lives and making health care work better. With headquarters in Minnetonka, Minnesota, UnitedHealth Group offers a broad spectrum of products and services through two business platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides information and technology-enabled health services. Through its businesses, UnitedHealth Group serves more than 75 million people worldwide. For more information, visit UnitedHealth Group at www.unitedhealthgroup.com. Forward-Looking Statements This press release may contain statements, estimates, projections, guidance or outlook that constitute “forward-looking” statements as defined under U.S. federal securities laws. Generally the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “project,” “should” and similar expressions identify forward-looking statements, which generally are not historical in nature. These statements may contain information about financial prospects, economic conditions and trends and involve risks and uncertainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of certain factors, including potential failure to receive anticipated benefits of the Amil acquisition.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts