UnitedHealth Group said Friday it has agreed to sell its large health care business in Brazil to a private investor in a deal that's expected to close in the first half of next year.

The Minnetonka-based health care giant did not disclose a sale price for the division, which it acquired in 2012 for about $4.9 billion, but a media report from Brazil this month suggested the buyer was paying about $515 million.

UnitedHealth said in a regulatory filing that it expects to record a charge of approximately $7 billion, the majority of which is non-cash and due to the impact of foreign currency translation losses.

Amil, the Brazil operation, includes more than 5 million health and dental insurance subscribers as well as a large network of hospitals, clinics and laboratories employing more than 20,000 people, according to a company website.

"UnitedHealth Group and José Seripieri Filho have reached an agreement on the sale of Amil, which includes Amil Insurance, Amil Integrated Care, Amil Dental and Americas Hospitals in Brazil," the company said in a statement.

"We believe this agreement will ensure ongoing success, working with a buyer who has the local knowledge and experience to continue the positive momentum of the business," the company said. "Our focus remains on serving our customers, supporting our employees and delivering high-quality care to our patients while regulatory authorities review the proposed transaction."

About three years after acquiring Amil, UnitedHealth executives talked about trying to grow the business by acquiring more hospitals and health care delivery centers in Brazil. Analysts at the time said that while the division had long-term potential, near-term results had been disappointing.

A report from Reuters last year on company efforts to sell the Brazil division said its value was estimated at about $1 billion.

On Friday, UnitedHealth Group said the $7 billion charge will affect the net earnings outlook for 2024. The company said it was confirming its previously issued adjusted earnings outlook, which called for a $24 billion profit in 2024.

Shares of UnitedHealth Group closed on Friday at $526.47, up slightly for the day.