What is UnitedHealth Group?
Health care business is a Fortune 500 company
UnitedHealthGroup is a major health care business and the parent company behind UnitedHealthcare and Optum.
The Minnetonka, Minnesota-based business is No. 7 on the Fortune 500 with more than $242 billion in annual revenue.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UNH | UNITEDHEALTH GROUP INC. | 600.68 | +23.68 | +4.10% |
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UnitedHealthcare is an insurer that provides services for 27 million Americans through its employer and individual health benefit plans, 12 million seniors through its Medicare and retirement services and millions of others through its other services, according to the company.
Optum provides medical care and pharmacy services as well as analytics, tech and other solutions for hospitals and other care providers.
UnitedHealth Group's Minnesota headquarters. (UnitedHealth Group)
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UnitedHealth employs about 325,000 people, according to the company.
David Wichmann is UnitedHealth’s CEO. He took the role in 2017 after working as the company’s president and other executive positions in UnitedHealthcare and Optum.
David Wichmann (LinkedIn)
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UnitedHealth has taken an active role in dealing with the coronavirus pandemic, working on treatments and tests, according to the company. Its studies of self-administered COVID-19 tests have seen positive results.
The company’s finances saw only “minimal impact” from the pandemic and its first-quarter profits beat analyst expectations. Its second-quarter profits “were substantially higher than anticipated,” according to its earnings release.
UnitedHealth Group's Minnesota headquarters. (UnitedHealth Group)
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Wichmann said in a statement that UnitedHealth’s employees “have tirelessly responded to COVID-19 with agility, innovation and compassion.”
“We moved swiftly to assist the people we serve and their care providers, including the provision of $3.5 billion in proactive voluntary customer assistance and accelerated care provider funding,” Wichmann said. “We remain committed to taking further actions to address any future imbalances as a result of the pandemic.”