UnitedHealth Group’s Optum has sold interest in Optum’s Florida WellMed clinics to private equity company TPG, Bloomberg originally reported Sept. 9. UnitedHealth Chief Financial Officer Wayne DeVeydt told Bloomberg that the healthcare company was looking for a partner “that could actually work with us locally,” and UnitedHealth “didn’t need the dollars.”
“We entered a strategic partnership designed to strengthen operating performance through dedicated support for clinic operations, targeted investments in technology and tools, and enhanced operating capabilities,” an Optum spokesperson told Becker’s Sept. 9. “The transitioning clinics will remain part of Optum’s network and continue providing high-quality care to patients. We remain committed to serving Florida patients through our integrated, value-based care model.”
The spokesperson said that, based on a previous strategic review of Optum’s health business, the company is considering and optimizing its care-delivery capabilities as the market evolves. In his Bloomberg interview, Mr. DeVeydt added that the TPG collaboration would enable faster growth while UnitedHealth also manages a larger turnaround. Mr. DeVeydt said UnitedHealth is opening roughly 15 clinics per year in Florida.
In 2025, UnitedHealth had a full-year revenue of $447.6 billion, up 12% year over year. However, total net earnings were under $12.1 billion, a decline from $14.4 billion in 2024. Optum Health’s 2025 revenue was $102 billion, a 3% drop year over year. In January, UnitedHealth projected more than $439 billion in revenue for 2026, a slight year-over-year dip attributed to “planned right-sizing.”
TPG previously acquired Optum UK, which included the EMIS Group asset, a healthcare software company used by the United Kingdom’s NHS.
Optum purchased WellMed, which focuses on care for older adults, in 2011.
Becker’s reached out to TPG for comment and will update this story if more information becomes available.
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