UnitedHealth deal in Brazil under…

A UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019. REUTERS/Lucy Nicholson

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SAO PAULO, Feb 10 (Reuters) – The Brazilian unit of UnitedHealth Group Inc (UNH.N), Amil, said on Thursday it is reviewing the sale of local health plan operator APS after the country’s health insurance regulator decided to block the deal citing a lack of information.

UnitedHealth confirmed that APS remains part of the company as determined by health regulator ANS earlier this week and that all health insurance plans acquired by its clients remain “strictly the same.”

The firm said the revision of the deal is aimed at “answering questions brought by the regulatory agency.”

ANS said on Tuesday it had called on representatives of Amil, which is part of UnitedHealth in Brazil, to explain the move after local media reported the sale of APS to a group formed by Fiord Capital, Seferin & Coelho and HVK in a 3 billion real ($572.49 million) deal.

According to the regulator, “no satisfactory answers” were provided by Amil on the transaction details – including the financial capacity of the new controlling shareholders to guarantee sustainability of the health insurance and the figures involved in it – and the deal was blocked “until a new decision by ANS”.

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Reporting by Gabriel Araujo
Editing by Bernadette Baum

Our Standards: The Thomson Reuters Trust Principles.

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