(Reuters) – Sul América presented an unsolicited binding proposal for the acquisition of up to 100% of the capital of Grupo HB Saúde for 485 million reais, according to a relevant company fact sent to the Brazilian Securities and Exchange Commission (CVM) on Monday night -fair.
The HB Saúde Group has a portfolio of around 129 thousand health plan beneficiaries and 25 thousand dental plan beneficiaries. In 2020, it recorded revenues of approximately 300 million reais, according to a statement from Sul América.
The group consists of a health care provider, a hospital, eight outpatient units, a children’s clinic, clinical and diagnostic centers, preventive and occupational medicine spaces and an oncology center, located mainly in São José do Rio Preto (SP) and Mirassol (SP).
The transaction, according to Sul América, is subject to the approval of the shareholders of HB Saúde at an extraordinary general meeting and the consequent sale by shareholders holding at least 50% plus one share of the voting and total capital of the company.
It also depends, after completion of the usual audit for this type of operation, on the execution of a purchase and sale agreement that will contain, among other relevant provisions, certain usual conditions precedent, including the need for prior approval from regulatory bodies.
(By Paula Arend Laier; Edited by Eduardo Simões)
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