UnitedHealth is Among Suitors Circling Tenet's Conifer Business -- Sources

By Dana Mattioli and Melanie Evans 

UnitedHealth Group Inc. is among suitors exploring an acquisition of Tenet Healthcare Corp.'s health-care-management subsidiary, according to people familiar with the matter, as the industry giant pursues further expansion.

Tenet, one of the largest U.S. hospital companies, has said it would weigh a sale of the unit, Conifer Health Solutions, which provides services to hospitals and physician groups. Tenet said it would make a decision in the first half of 2018 on Conifer, which accounted for about 8% of its revenue last year.

It isn't clear whom the other suitors may be, and it isn't guaranteed UnitedHealth or anyone else will ultimately strike a deal for the business, which Tenet has said it may not sell.

Should there be a deal, it could value Conifer at $2 billion or more, analysts have estimated.

Anna Wilde Mathews contributed to this article.

(END) Dow Jones Newswires

July 18, 2018 18:09 ET (22:09 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.