UnitedHealth Sells Interest in Florida Clinics to Private Equity Firm TPG

UnitedHealth Group Inc., parent company of Optum Health, has offloaded an interest in its Florida-based WellMed Clinics to private equity firm TPG. The move is part of UnitedHealth's efforts to recover from a collapse in profits last year.

According to Chief Financial Officer Wayne DeVeydt, the partnership with TPG will enable the business to grow more quickly than it would be able to if UnitedHealth were running everything alone.

The Optum Health division has faced challenges due to rising healthcare costs and federal policies restricting payments. However, Optum's operating margins are expected to improve this year, reaching around 2%, higher than previously estimated.