UnitedHealth Group shares fell as much as 3% after the company disclosed the sale of a stake in part of its Florida Optum Health business to private equity firm TPG. The transaction covers operations tied to WellMed, a network of senior-focused primary-care clinics, and is intended to accelerate expansion through local expertise, dedicated infrastructure and technology investment. Financial terms were not disclosed. Chief Financial Officer Wayne DeVeydt said the arrangement was a strategic partnership rather than a capital-raising exercise, while the clinics will remain within the Optum network and continue operating under their existing value-based care model. Optum Health has been UnitedHealth's weakest-performing division, with margins turning negative last year as care costs rose and federal regulations constrained payments. The company subsequently replaced its chief executive and other senior leaders. DeVeydt projects margins of about 2% this year, 4% in 2027 and 6% in 2028. UnitedHealth has been opening roughly 15 Florida clinics annually. TPG reported $326.8 billion in assets under management and $76.2 billion in available capital at the end of the second quarter, and also acquired the separate Optum UK unit in a transaction that generated $400 million for the UnitedHealth Foundation. Analysts maintain a Strong Buy consensus based on 16 Buys and five Holds, with an average price target of $481.67 implying roughly 23% upside.