The largest U.S. health insurer is expanding deeper into South America by spending about $2.8 billion to buy a health care provider and insurer that operates in Chile, Columbia and Peru.
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UnitedHealth Group Inc. said Friday that it will start an offer next week to buy all outstanding shares of Empresas Banmédica. The insurer expects to complete the deal in next year’s first quarter.
Minnetonka, Minnesota-based UnitedHealth covers nearly 45 million people in the U.S. and another 4 million people internationally.
That includes business in Brazil, where the insurer offers health and dental benefits and hospital and clinical services.
UnitedHealth leaders said last month that health systems around the world face the same challenges of access, affordability and improving patient care, and the company would look to enter new markets.
