05/22/2024 – 22:15
In a significant move to strengthen its financial position and growth strategy, Oncoclínicas&Co (B3: ONCO3), a leader in oncology in Latin America, approved a capital increase of R$1.5 billion. The increase will be carried out through the issuance of 115.4 thousand new common, nominative and book-entry shares, with no par value. The capital injection aims to reduce leverage and increase liquidity, supporting Oncoclínicas’ business model focused on expanding access, achieving scale and optimizing costs in oncology treatment.
Banco Master played a fundamental role in this transaction, anchored by the bank, the multi-strategy equity investment funds Quiron and Tessália, committing to subscribe R$1 billion of the new shares. This investment will result in a stake of approximately 12% in Oncoclínicas&Co. Furthermore, Bruno Lemos Ferrari, CEO and shareholder of the company, committed to subscribing R$500 million.
“The capital increase significantly strengthens our capital structure and leaves us even more prepared to capture future growth opportunities, continuing to deliver exceptional quality care with a focus on our patients and their families”, highlighted Ferrari.
The conditions for the capital increase include the issuance of new shares fixed at R$ 13.00, with a premium of 89% in relation to the market value, based on an evaluation by XP Finanças Assessoria Financeira Ltda. The resources raised will also be used to maintain the growth strategy, continue organic expansion plans, execute the business plan and general corporate use.
The Josephina and Josephina II multi-strategy equity investment funds, representing Goldman Sachs, committed to ceding all of their respective preemptive rights to investors, in the context of the capital increase.
Daniel Vorcaro, president of Banco Master, highlighted that “health is one of the markets with the greatest potential for growth in Brazil in the coming years, whether in the pharmaceutical industry, basic care or in services with very high added value, where Oncoclínicas&Co has an enviable position in the Latin America. Being part of a company that is changing access to cancer treatment in the country, alongside Goldman Sachs, is an immense opportunity.”
According to João Padin, vice-president of Corporate Equity Investments at Goldman Sachs Asset Management, the transaction demonstrates the attractiveness and strength of Oncoclínicas&Co’s business model. “The resources raised are important for maintaining the growth strategy and strengthening the group’s capital structure. In this way, Oncoclínicas & Co reinforces the solidity of its operations and the commitment to the quality of services provided to patients”, he added.
Oncoclínicas&Co reaffirms in the statement that it will maintain its commitment to transparency and corporate governance, keeping its shareholders and the market informed about the next steps in this capital increase process.
The company, which provided more than 600,000 services last year, has expanded its service capacity in recent years to meet the increased demand for cancer treatment. Projections made by cancer institutes around the world and in Brazil point to a strong advance in the disease over the next two decades, largely associated with population aging. In Brazil, the National Cancer Institute estimates more than 700 thousand new cases per year in the 2023-2025 biennium.
This capital increase by Oncoclínicas&Co comes at a time when the entire health sector is under pressure from the high costs of treatments and medicines, putting health plans in particular in difficulties. This movement by Oncoclínicas&Co, along with other market operations, shows that, despite the sector’s difficulties, players are moving and investments are growing.
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