Rede D’Or and Bradesco Seguros join together to create a new network of hospitals

Rede D’Or will further consolidate its leadership in the country’s hospital market, after closing an agreement with Bradesco Seguros to jointly invest in the construction of new projects across the country.

In a relevant fact published on the evening of this Wednesday, May 8, the Moll family company reported having reached an agreement with Atlântica Hospitais e Participações, a company controlled by Bradseg Participações and part of the Bradesco Seguros Group, to set up a company which will command a new network of hospitals, called Atlântica D’Or.

Initially, the partnership will build hospitals in the regions of Macaé (RJ), Alphaville (SP) and Guarulhos (SP), in addition to analyzing the development of units in other places, in particular, Taubaté and Ribeirão Preto, both in São Paulo. When they have reached full operational capacity, the hospitals under construction will have around 620 beds.

According to Rede D’Or, the value of the investment planned for the construction of the new hospitals is R$1.15 billion. The company will have 50.01% of the capital of Atlântica D’Or, while Atlântica Hospitais will hold the remaining 49.99%.

Between 2020, when it made its IPO, and 2022, Rede D’Or led the wave of acquisitions recorded in the hospital segment. M&As were the main way for the group to reach a current base of 73 hospitals, of which 70 are owned and three under management, totaling 11.7 thousand beds.

After this boom, under the impacts of the post-pandemic, the company put the brakes on acquisitions, like the entire sector. But it continued to expand its base, through greenfield projects and expansions in the portfolio it already had in-house.

In its balance sheet for the first quarter, for example, Rede D’Or reported that it has an extensive organic program, with more than 50 projects distributed across new units and expansions in existing units, the so-called brown fields.

With the agreement announced today, however, the company is once again including expansion projects involving other players in this account. “Atlântica D’Or is the result of the strategic combination between the solidity of the Bradesco Seguros Group and the experience in hospital management of Rede D’Or, bringing a new company to the supplementary healthcare scenario in the country”, says, in a note, Jorge Moll, president of the board of directors of Rede D’Or.

At the same time, the partnership also represents another agreement by Bradesco Seguros in the development of hospitals, whose future began to be questioned after several M&A movements in the market, such as the purchase of SulAmérica by Rede D’Or, in 2022, and the merger between Hapvida and Intermédica, also in 2022.

In December, Atlântica teamed up with Mater Dei from Minas Gerais to build a highly complex hospital in the capital of São Paulo, with a forecast of investing around R$600 million. In this case, Atlântica will have 51% of the new venture.

Previously, in March of the same year, Bradesco Seguros entered into a partnership with Hospital Israelita Albert Einstein for the construction of a general hospital in the city of São Paulo, a project that will require investments of R$600 million.

And, in 2022, Bradesco Seguros closed an agreement with Fleury and BP to invest R$678 million to create an oncology company.

“With different contributions, each within their own expertise, this partnership with Rede D’Or aims to create new solutions that are of great value to the health sector”, states, in a note, Carlos Marinelli, general director of Atlântica Hospitais e Participations.

The consummation of the transaction is subject to compliance with certain conditions usual in operations of this nature, including approval by the Administrative Council for Economic Defense (CADE).

Shares of Rede D’Or (RDOR3) closed today’s trading session with a drop of 0.77%, at R$29.52. In the year, they accumulated an increase of 2.6%, taking the market value to R$67.1 billion.