Minnetonka-based health insurer UnitedHealth Group has launched a tender offer as an initial step towards acquiring Empresas Banmédica, a leading healthcare provider and insurer serving Chile, Colombia and Per for nearly six million people across more than 40 hospitals. The $2.8B bid would expand UnitedHealth Group’s operations in South America, where the largest health insurer in the United States already is a large healthcare provider and insurer in Brazil. The announcement comes on the heels of UnitedHealth’s recent acquisition of DaVita Medical Group, one of the nation’s leading independent medical groups and a subsidiary of DaVita Inc. for $4.9B in cash.
Financial Details
UnitedHealth Group will offer CLP$2150 per share for 100 percent of the outstanding shares of the Company, valuing Empresas Banmédica’s equity at CLP$1.7 trillion (approximately USD$2.8 billion). The two controlling shareholders of Empresas Banmédica will tender their combined approximate 57 percent ownership in Empresas Banmédica.
The tender offer is expected to commence on or about December 27, 2017 and close on or about January 25, 2018, subject to customary terms and conditions.
