UnitedHealth Group is exploring the sale of its Banmedica subsidiary, which operates in Colombia and Chile, Reuters reported June 9.
The company has been trying to exit Latin America since 2022, but the reported sale has taken on increasing urgency in recent months as the company has faced mounting financial and internal challenges.
According to the report, UnitedHealth has four non-binding bids for Banmedica and is looking to sell for about $1 billion in July. Irving, Texas-based Christus Health is among the reported bidders.
Banmedia serves more than 2.1 million insurance members and operates 13 hospitals and 143 medical centers.
UnitedHealth completed the sale of its Brazil assets in 2024.
