News Summary: UnitedHealth plans $4.9B acquisition
THE DEAL: U.S. health insurer UnitedHealth Group Inc. will spend about $4.9 billion to buy a majority stake in Brazilian health benefits and care provider Amil Participacoes SA.
THE TARGET: Amil Participacoes is Brazil's largest health insurer, with a network of providers that includes 3,300 hospitals and 44,000 doctors. It also owns 22 hospitals and about 50 clinics. The company reported $4.45 billion in revenue last year.
ABOUT BRAZIL: Only about 25 percent of the country's population of 200 million people is covered by private health insurance, leaving insurers with ample opportunity to increase their business.