UnitedHealth Sells Stake in Florida Clinics to TPG Amid Guidance Reaffirmation
UnitedHealth Group's stock fell 3% to $388.58 in early trading on Wednesday, despite being up 15% year-to-date.
The decline comes after Bloomberg reported that UnitedHealth sold an interest in part of its Florida WellMed primary-care clinics to TPG, a Fort Worth alternative asset manager with $326.8 billion in assets under management and $76.2 billion in available capital.
TPG's Capital and Healthcare Partners platforms have been active in senior-care buyouts, and the deal is seen as a growth partnership rather than a capital raise by UnitedHealth's CFO Wayne DeVeydt.
DeVeydt stated that UnitedHealth didn't need the dollars from the sale but needed the focus and local expertise to grow the clinic footprint faster. He also revealed that Optum Health margins are expected to reach 2% this year, ahead of prior expectations, and guided to 4% next year.
The sector barely flinched, with the Health Care Select Sector SPDR ETF (XLV) down just 0.4%, and peers Elevance Health (ELV), Cigna (CI), and Humana (HUM) holding steady, confirming that the selloff is UNH-specific.
UnitedHealth plans to reaffirm its full-year 2026 financial guidance at an investor conference hosted by Wells Fargo today, with management expected to reiterate its adjusted EPS in the range of $19.50 to $20.00 and operating cash flow of $24 billion.