Rallies from two managed care organizations boosted the health care sector. UnitedHealth Group (UNH, Financial) was the single best contributor in the Fund, up 35% for the quarter, after releasing conservative but robust 2020 guidance. In December, UNH’s OptumRx announced a $304 million cash acquisition of Diplomat, a specialty pharmacy/home infusion service.
From Bernard Horn (Trades, Portfolio)'s Polaris Global Value Fund fourth-quarter 2019 shareholder letter.