UnitedHealth Group completed the sale of its health insurance and hospital operations in Brazil, the company said in regulatory documents filed Feb. 6.
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.