TPG is nearing a deal to acquire Optum UK from UnitedHealth Group in a transaction valued at between £1.2bn and £1.4bn, equivalent to roughly $1.5bn–$1.8bn, Sky News reported.

Optum UK supplies electronic patient record systems used by the majority of NHS general practitioners. The business includes EMIS, which UnitedHealth acquired in 2023 for about £1.2bn following regulatory approval.

Sources said the deal could be announced in the coming weeks, although it has yet to be finalised and could still fall through. Bank of America has been advising on the sale process, which also attracted interest from other buyout firms, including Blackstone.

One private equity source suggested TPG could seek to combine Optum UK with Nextech, a US-based provider of electronic medical record software, as part of a broader healthcare technology strategy.

The potential acquisition comes as UnitedHealth seeks to address a sharp decline in its market valuation, while private equity firms continue to target healthcare software assets with entrenched customers and long-term contracts.

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