UnitedHealth Group Inc will purchase control of Amil Participacoes SA, Brazil's largest health insurer and hospital operator, for $4.9 billion, making a bold move into a fast-growing market as challenges mount for its U.S. business.The Brazilian healthcare market has been bolstered by a growing middle class and is turning to managed care to meet demand. It is expected to grow twice as fast as the U.S. market, UnitedHealth Chief Executive Stephen Hemsley said during a conference call on Monday. For a Factbox, see:"It looks to us like the potential the U.S. market had 20 or more years ago," Hemsley said.The purchase marks UnitedHealth's first foray to become a hospital owner and is one of the largest overseas acquisitions by a U.S. managed care company yet. For the moment, UnitedHealth is likely to stand alone overseas as competitors catch up at home, analysts said.
UnitedHealth Group Incorporated (UnitedHealth Group) is a diversified health and well-being company. Shares of UNH traded higher by 0.98% or $0.56/share to $57.69. In the past year, the shares have traded as low as $42.86 and as high as $60.75. On average, 6410360 shares of UNH exchange hands on a given day and today's volume is recorded at 4276807.
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