Minnetonka, Minn.-based UnitedHealth Group has signed a definitive agreement to acquire Banmedica SA, a health insurance and clinic operator in Chile, for $2.8 billion, according to Reuters.
UnitedHealth will offer 2,150 pesos ($3.47) per share, and Banmedica's two controlling shareholders will tender their combined 57 percent ownership in the company, according to the report.
The definitive agreement comes after the two companies inked a nonbinding agreement in September.
More articles on payer issues:
Arizona applies to add work requirements, lifetime limits to Medicaid
Molina Healthcare to lay off 60 employees this month
BCBS of Kansas names CEO