By Brazil Stock Guide – Amil, a Brazilian health insurer and hospital operator, has submitted a bid to acquire UnitedHealth Group’s (NYSE: UNH) units in Chile and Colombia, according to a report by O Globo on Sunday. The move marks a strategic shift for the company, controlled by businessman José Seripieri Filho, as it seeks regional growth.
Competition for Banmédica
UnitedHealth has put its Banmédica subsidiary up for sale, which operates health plans and hospitals in Santiago and Bogotá. Alongside Amil, interested parties include Acon Investments, Pátria Investimentos (NASDAQ: PAX), Christus Health and Peru’s Auna, according to previous reports in the Brazilian press. Binding offers closed on August 22, with the deal valued at up to US$1 billion (R$5.7 billion) and expected to be completed between late 2025 and early 2026.
Strategic repositioning
If successful, Seripieri Filho could turn Amil into a significant Latin American player, repositioning the brand after years of turbulence. He founded Qualicorp in the 1990s and sold it to Rede D’Or (BVMF: RDOR3) in 2019. Close to President Luiz Inácio Lula da Silva, Seripieri is now betting on international expansion.
UnitedHealth has already completed the sale of Amil in Brazil to Seripieri in 2024, recording a US$7 billion accounting charge. The Banmédica divestment will mark its full exit from Latin America. For the U.S. giant, the transaction reduces exposure to volatile currencies and sharpens its focus on the domestic market, which generates the bulk of its revenue.