Goodbye to Brazil’s largest health plan

Goodbye to Brazil’s largest health plan

After 38 years, Brazil’s largest health plan said goodbye after going bankrupt

The announcement of the bankruptcy of one of the largest health plans in Brazil after 38 years of operation was shocking and very disturbing news for the 190,000 users who depend on the services of this company.

Scandal and bankruptcy: the sad situation of a giant company in Brazil

bankruptcy

In 2004, it was a scandalous farewell to Brazil’s largest health plan, the Medicare Between clinicalafter 38 years of its existence, has left its users in despair.

According to Época Negócios, the National Complementary Health Agency (ANS) has initiated an extrajudicial liquidation process for the company, which was one of the most traditional health plans in São Paulo. This measure has been published in the Official Journal of the Federation and involves the forced sale of the Interclinicas customer portfolio.

This means that, generally within a 30-day period, the company had to transfer management of its services to another company in the healthcare sector.

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The extrajudicial liquidation process, which is essentially an out-of-court bankruptcy process, began with the transfer of the operator’s client portfolio.

Interclinicas’ financial problems began in 2003, when the company began delaying payments to providers. The situation worsened over the years, and in early 2004, the Afghan National Army was raised He issued a financial directive decree, a form of intervention in the company.

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There was hope that cooperation with Gama Saúde, a company linked to a large financial group, would solve the financial problems plaguing Interclínicas. This partnership began in July 2004, but did not achieve the expected results.

According to Época Negócios, Interclinicas’ debts with suppliers, such as doctors, clinics, hospitals and laboratories, already exceeded R$100 million in 2004. This is without counting other debts owed to banks and the government.

The operator’s balance sheets for 2004 were not available for reference on the ANS website. However, previous data indicated a loss of R$7.1 million and short-term liabilities of R$96.3 million.

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Doctor and health plan cards (Image: Reproduction/Internet)
Doctor and health plan cards (Image: Reproduction/Internet)

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About the Author: Camelia Kirk

"Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

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