UnitedHealth Group said Dec. 29 it agreed to sell the business to a private investor for an undisclosed amount. UnitedHealth said it expects to record a $7 billion charge as a result of the deal, which will be excluded from its adjusted earnings.
UnitedHealth purchased the unit, called Amil Participacoes SA, in 2012 for $4.9 billion, according to Bloomberg. The company has been trying to offload its Brazilian assets since 2022 due to growing losses in individual health plans.
Amil includes more than 5 million health and dental plan members, along with a network of hospitals and clinics that employ more than 20,000 people.
UnitedHealth’s operations outside the U.S. have not been a focus of the company’s presentations to investors for years. Its international businesses represented less than 3% of its total revenue in 2022, according to Bloomberg.
