SAO PAULO, March 31 (Reuters) - Brazilian hospital chain
Care has filed for an initial public offering of roughly 790.5
million reais ($139.42 million), amid a dealmaking boom in
Brazil's healthcare sector, according to a securities filing on
Care's plans for an IPO follows a raft of share offerings by
hospital operators. Rede D'Or successfully concluded
in December a 11.4 billion reais IPO and rivals such as Kora
Saude Participacoes and Dasa are expected to conclude
share offerings in the coming weeks.
Rising demand for services and an aging population have
fueled deals in Brazil's healthcare sector, as Reuters reported
Hospital Care and its shareholders plan to sell at least 31
million shares between 22.50 reais and 28.50 reais. If
overallotments are sold, the offering may increase by 35%. The
price will be set on April 20.
The hospital operator has among its shareholders Brazilian
private equity firm Crescera and Elie Horn, the founder of
It operates 11 hospital, with 1,206 beds, and also sells
healthcare plans, in a business model similar to Hapvida
and Notre Dame Intermedica.
Itau BBA, BTG Pactual, Bank of America, XP, Safra and UBS BB
will manage the offering.
($1 = 5.6700 reais)
(Reporting by Aluisio Alves, writing by Carolina Mandl; editing
by Diane Craft)