BRASILIA (Reuters) – Brazilian lab and hospital group DASA SA said on Thursday it has signed an agreement to acquire the Grupo Leforte hospital and clinic company for 1.77 billion reais ($343.6 million).
DASA’s board approved the purchase through its wholly owned subsidiary Impar Serviços Hospitalares S.A. of 100% of Biodinamo, which controls Grupo Leforte’s hospital, outpatient care, clinical and diagnostics services.
DASA said in a securities filing that adding three hospitals and five clinics to its network, pending anti-trust regulator approval, will turn the Sao Paulo-based company into Brazil’s second-largest independent hospital network.
“With this acquisition, we have expanded our capillarity in the largest metropolitan region in the country with excellent medical centers of high complexity,” DASA Chief Executive Officer Pedro Bueno said.
The company said its share structure will not alter and management of the two companies will continue to be separate until Brazil’s anti-trust regulator CADE approves the deal.
With a combined revenue of 9 billion reais, in 2019 figures, the merger will create a group of more than 40,000 employees.
DASA had agreed in September to conduct clinical Phase 2 and 3 trials in Brazil for a COVID-19 vaccine developed by COVAXX, a unit of U.S. privately owned United Biomedical Inc.
Reporting by Anthony Boadle, Editing by Chris Reese and Sherry Jacob-Phillips