UnitedHealth Sells Stake in Florida Clinics to Private Equity Firm
UnitedHealth Group has sold an ownership stake in some of its WellMed clinics in Florida to private equity firm TPG. The deal brings a new investment partner into the operations while UnitedHealth retains control.
The transaction is part of UnitedHealth's strategic review, aimed at advancing and scaling its business, including Optum Health's value-based care unit. CEO Wayne DeVeydt stated that they did not sell to TPG due to lack of capital, but rather for greater local focus and expansion capabilities.
Optum Health CEO Krista Nelson emphasized that the partnership will support additional investment and growth in Florida while UnitedHealth retains an ownership stake. The clinics involved in the transaction remain part of Optum's network and continue providing high-quality care to patients.
The affected WellMed clinics operate primary care services primarily for older adults across Florida and Texas. As part of its restructuring, UnitedHealth has been working to restore profitability at Optum Health following operational challenges and rising medical costs.