UNH Shares Slide as UnitedHealth Sells Stake to Private Equity Firm TPG

UnitedHealth Group's (UNH) shares dipped by 2.5% after the company sold an interest in part of its Optum Health business in Florida to private equity firm TPG.

The transaction involves operations linked to WellMed, which runs senior-focused primary-care clinics.

Financial terms were not disclosed, leaving investors without a stated value for the stake.

UnitedHealth Chief Financial Officer Wayne DeVeydt said the arrangement was intended to bring additional local expertise to the business rather than provide funding.

He indicated that working with TPG could allow the clinic network to expand at a faster pace.