Brazil’s Rede D’or and Bueno family bid for UnitedHealth’s Amil – report

Industry:    4 months ago

Brazilian hospital chain Rede D’or and the Bueno family are competing for the purchase of healthcare plan operator Amil, which is controlled by UnitedHealth Group, local newspaper O Estado de S.Paulo reported on Thursday.

According to the report, Brazil’s major healthcare groups have already been sounded about potential interest in Amil, but, so far, Rede D’Or and the Bueno family, which also controls healthcare company Diagnosticos da America SA, are the frontrunners.

Healthcare provider Amil was founded by the Bueno family in the 1970s and sold to UnitedHealth Group in 2010 for 10 billion reais ($1.81 billion), but has been reporting losses in its individual plans portfolio in recent years, said the report.

Amil, UnitedHealth Group and Rede D’or did not immediately respond to Reuters’ requests for comments.

Shares in Rede D’or were up 1.5% in afternoon trading on the Sao Paulo stock exchange, outperforming the broader Bovespa Index, which rose 0.3%.