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United HealthCare Insurance Company history
United HealthCare Insurance Company company history timeline
In January 1977 the company was incorporated as United HealthCare Corporation.
The company was founded in January 1977 and is headquartered in Minneapolis, MN.“
In June 1985 United HealthCare made its first major acquisition since going public, acquiring Share Development Corporation, an Indiana-based multi-state HMO through a stock swap valued at nearly $60 million.
In April 1987 Kenneth Simmons, the former president of Peak Health Care, was named chief operating officer of United HealthCare, succeeding Robert Ditmore, who remained president.
That month, on the heels of the HMO America deal, United HealthCare agreed to make its first divestiture since 1987, selling its Des Moines-based health plan with about 26,000 members.
In September 1988 United sold its interest in Peak Health Care Corporation for $41.5 million and raised an additional $31.6 million through a secondary public stock offering.
At the same time, the company launched a new expansion and acquisition plan under the direction of Doctor William McGuire, a former Peak Health Care president who was promoted to United HealthCare president in 1989.
By the close of 1990 United HealthCare, with about 1.5 million members enrolled in its health plans, was serving more patients than any other independent HMO company.
By the time United HealthCare closed its books on 1991 it was trading on the New York Stock Exchange and had more than doubled its previous year's income to $74.8 million on revenues of $847.1 million.
In early 1993 United HealthCare became Ohio's preeminent HMO when it paid $100 million to acquire Western Ohio Health Care Corporation, a 185,000-member health plan and the largest HMO in Dayton, Ohio.
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United HealthCare Insurance Company competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Aetna Health Holdings | 1987 | $200.0M | 175 | - |
| HealthSmart | 1983 | $270.0M | 3,000 | 1 |
| Safeco Insurance | 1923 | $6.3B | 7,200 | - |
| Unitedheath Group | 1977 | $1.4B | 1,800 | 138 |
| ARGUS DENTAL PLAN | 2007 | $34.0M | 50 | - |
| Empire BlueCross BlueShield | 1934 | $39.0M | 7,500 | - |
| Pomco | 1978 | $700.0M | 750 | - |
| Country-Wide Insurance | 1963 | $400,000 | 50 | 7 |
| Travel Guard | 1982 | $1.0M | 5 | - |
| Connect for Health Colorado | 2011 | $82.2M | 20 | 145 |
United HealthCare Insurance Company history FAQs
Zippia gives an in-depth look into the details of United HealthCare Insurance Company, including salaries, political affiliations, employee data, and more, in order to inform job seekers about United HealthCare Insurance Company. The employee data is based on information from people who have self-reported their past or current employments at United HealthCare Insurance Company. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by United HealthCare Insurance Company. The data presented on this page does not represent the view of United HealthCare Insurance Company and its employees or that of Zippia.
United HealthCare Insurance Company may also be known as or be related to United HealthCare Insurance Company.