Advent buys into Brazilian health care
Wednesday, 23 September 2015 (2 hours ago) by Lulu Rumsey
Lobo & de Rizzo Advogados has helped US private equity investor Advent buy a minority
stake in Brazilian medical diagnostics company Fleury.
Fleury is Brazil’s second largest provider of medical diagnostics. Holding company Core,
which has indirect control of Fleury and is owned by a group of doctors, turned to
Machado, Meyer, Sendacz e Opice Advogados to sell 13 per cent of its stake in the
diagnostics company. The transaction leaves it with a 28 per cent stake, while another
Fleury shareholder, Bradesco Seguros, which did not sell any part of its 16 per cent
interest, recruited BMA - Barbosa, Müssnich, Aragão for the transaction.
Advent bought the stake through a US$2.1 billion investment fund it established last
November that is aimed at Latin America. Parties have kept the price tag confidential,
but Reuters values the deal at US$91 million. The deal was signed on 15 September and
is expected to close in October.
Advent also showed its interest in Brazil’s medical sector last year, when it financed
Colombian health-care company Grupo Biotoscana’s acquisition of United Medical, a
group of pharmaceutical companies based in São Paulo. Brazil’s health-care sector is
tipped to benefit from a change in legislation earlier this year allowing foreign companies
to invest capital in private health-care providers. The change prompted another US
investor, The Carlyle Group, to buy a US$600 million stake in Brazil’s largest private
hospital operator, Rede D’Or, a move it followed with the purchase of a majority stake in
another Brazilian health-care provider, Tempo.
Meanwhile, Advent has made advances into other areas of Brazil’s economy. In March it
bought a controlling stake in Allied, one of Brazil’s largest mobile phone distributors,
from US-based One Equity Partners for a reported US$376 million.
Counsel to Advent
Lobo & de Rizzo Advogados
Partners Rodrigo Millar de Castro Guerra and Otávio Lucas Solano Valério and associates
José Eduardo de Araújo Marreti, Fabiana Yume Ukei, Joice Nogueira Dolse and Felipe
Costa Rodrigues Neves
Counsel to Core
Machado, Meyer, Sendacz e Opice Advogados
Partners Arthur Penteado and Fernando Tonanni, and associates Manuela Lisboa,
Mariana Meditsch, Bruno Gomes and Eduardo Camara
Counsel to Bradesco Seguros
BMA - Barbosa, Müssnich, Aragão
Partners Henrique Beloch and Francisco Müssnich and associate Filipe Thompson
Fonte: Latin Lawyer
http://latinlawyer.com/news/article/48726/advent-buys-brazilian-health-care/
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