UnitedHealth Group
UnitedHealth Group is an American multinational healthcare company based in Minnetonka, Minnesota. It offers a variety of health care products and insurance services. UnitedHealth Group is the largest healthcare company in the world by revenue, with 2019 revenue of $242.2 billion.
History
UnitedHealth Group was founded in 1977 by Richard Burke and went public in 1984. It was reorganized in 1998 and its new parent company, UnitedHealth Group, was formed. The company has made a number of acquisitions to expand its range of services, including the 2002 purchase of Medica, a Minnesota-based health insurer, and the 2005 acquisition of PacifiCare Health Systems, a California-based health insurer.
Operations
UnitedHealth Group operates through two divisions: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides information and technology-enabled health services. UnitedHealthcare includes four divisions: UnitedHealthcare Employer & Individual; UnitedHealthcare Medicare & Retirement; UnitedHealthcare Community & State, and UnitedHealthcare Global.
Controversies
UnitedHealth Group has faced several controversies and lawsuits. In 2006, the Securities and Exchange Commission (SEC) began investigating the company's stock options practices, and the Internal Revenue Service and the U.S. Department of Justice also investigated. In 2007, the company settled with the SEC for $468 million.
See also
References
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External links
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- Health care companies of the United States
- Companies listed on the New York Stock Exchange
- Companies in the Dow Jones Industrial Average
- Multinational companies headquartered in the United States
- American companies established in 1977
- 1977 establishments in Minnesota
- Companies based in Minnetonka, Minnesota
- Health insurance in the United States
