(Bloomberg) -- UnitedHealth Group Inc., the biggest U.S. health insurance company, agreed to pay about $4.9 billion to buy 90 percent of Amil Participacoes SA, a Brazil-based insurer and hospital chain that gives the American company a stake in the world’s second-biggest emerging economy.

The deal values Amil at 30.75 reais ($15.13) per share, a 50 percent increase over its price a month ago, said Donald Nathan, a UnitedHealth spokesman, in an e-mail. Amil’s founder, Edson Bueno, will remain as chief executive officer and chairman of the Brazil operation and will join UnitedHealth’s board, the Minnetonka, Minnesota-based insurer said in a statement.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access