UnitedHealth Group

UnitedHealth Group Incorporated is an American multinational managed healthcare and insurance company based in Minnetonka, Minnesota. Offering insurance services under UnitedHealthcare and healthcare products under Optum, it is the world's eleventh-largest company by revenue and the largest healthcare company by revenue, and the largest insurance company by net premiums. Optum and UnitedHealthcare had roughly equal earnings from operations in 2022. The company is ranked 10th on the 2023 Fortune Global 500. UnitedHealth Group had a market capitalization of $477.4 billion as of August 7, 2023. History UnitedHealth Group has origins dating back to late 1974 with the founding of Minnesota-based Charter Med Incorporated by Richard Taylor Burke. It originally processed claims for doctors at the Hennepin County Medical Society. United HealthCare Corporation was founded in 1977 to purchase Charter Med and create a network-based health plan for seniors. It became a publicly traded company in 1984 and changed its name to UnitedHealth Group in 1998. In 1988, United HealthCare started its first pharmacy benefit management, through its Diversified Pharmaceutical Services subsidiary. It managed pharmacy benefits delivered both through retail pharmacies and mail. The subsidiary was sold to SmithKline Beecham in 1994 for $2.3 billion.