UnitedHealth Group sold a stake in some Optum Health operations in Florida to private equity firm TPG. This sale is part of a broader business reorganization for UnitedHealth. The company aims to recover from a recent decline in profits, driven by its Optum Health division. UnitedHealth also made leadership changes as part of its turnaround efforts.
CFO Wayne DeVeydt stated the TPG partnership aims to accelerate growth and bring a more localized focus to the Florida operations. He clarified the company does not intend the move to raise capital. The Florida clinics are part of Optum's WellMed business, which primarily serves older adults.
UnitedHealth expects the partnership to improve Optum Health's operating margins. Margins are projected at 2% this year. They are expected to increase to 4% in 2027.