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The Mater Dei hospital network is buying 95% of Emec, the largest private hospital in Feira de Santana (state of Bahia), for around R$200 million. This is the group’s second acquisition in the first 40 days of the year. In January, the network disbursed almost R$250 million for Hospital Premium, in Goiânia (state of Goiás).
Since its IPO, in April last year, Mater Dei has already made six acquisitions totaling around R$2 billion. The resources come from its IPO in April, when the company raised R$ 1.6 billion, in addition to cash generation. In October, the chain approved a R$700 million debenture issue that will help in the expansion process.
The strategy of this new transaction is to integrate Emec with the new Mater Dei unit, in Salvador, which is in the final stage of construction and will be inaugurated in May. “We want to create a regional hub, integrating the two hospitals to gain efficiency and complementarity. The distance between the two hospitals is 100 km, about one hour. It is common for doctors to work in Salvador and Feira de Santana,” said Mater Dei CEO Henrique Salvador.
Considering the two hospitals, Mater Dei will have about 520 beds in Bahia. Emec has 126 beds, with an expected expansion to reach 150 inpatient units. Last year, the hospital recorded net revenue of R$130 million. Mater Dei is paying R$1.3 million per bed, a level below the market average.
Salvador and Feira de Santana are among the cities with the highest volume of health plan users in the Northeast region. Among the consolidator groups, only Rede D’Or has a hospital in Feira de Santana.
A reference in Minas Gerais, Mater Dei has been diversifying its presence in the country. In July, it made its largest acquisition: the purchase of Porto Dias Hospital, in Pará, in a transaction that involved the payment of R$800 million and shares (equivalent to 7% of the capital of Mater Dei) – totaling a R$1.3 billion deal.
In November, Mater Dei bought Hospital Santa Genoveva, in Uberlândia (state of Minas Gerais), for around R$310 million.
Considering the new units and acquisitions, the Mater Dei network now has 2,700 hospital beds. In Brazil, there are few hospital groups. It is still a very fragmented sector, with most hospitals having less than 150 inpatient units.
Source: Valor International