UnitedHealth to buy 90 % in Brazil's Amil Participacoes for $4.9 bn

US diversified healthcare group UnitedHealth Group today said it would acquire a 90-per cent stake in Amil Participacoes SA, Brazil's largest health insurer and hospital operator, for about $4.9 billion.

The remaining 10 per cent stake will be held by Amil's founder and CEO Edson Bueno  and partner Dulce Pugliese, for at least five years.

Founded in  1978, Rio de Janeiro-based Amil is Latin America's biggest healthcare company and the biggest private medical operator in Brazil.

The company offers healthcare plans for large, medium and small companies, as well as plans for individuals. It operates its business in two segments: Insurance and Hospitals.

Amil owns  22 hospitals and 2 more under construction, and serves around 5.8 million customers in six Brazilian states.

Amil reported revenues of around $5 billion in 2012, a 20 per cent increase over 2011.