Brazil's largest health plan sold for R$11 billion
A health plan is a service that provides health care through examinations, consultations and procedures, after a monthly payment by the client. This time, for example, we will talk about one of the largest agreements in Brazil that left 5 million customers apprehensive.
This is because the company that runs the health plan has been sold. As a result, customers are now fearful of losing their health insurance. More than 5 million users can bid farewell to their agreement this year. The deal was completed in December last year and the changes have been in effect since the beginning of this year.
According to information published by the “Investing Br” portal, businessman José Seribiri Filho Jr., who founded Qualicorp and Qsaúde, bought Amil, the operator of health plans, which belongs to UnitedHealth Group (UHG), for 11 billion Brazilian reais, according to information published by the “Investing Br” portal. “Investing Br”. People who followed the deal.
As CNN reported, Amil was also disputed by businessman Nelson Tanure, of operator Alliança, and US private equity fund Bain Capital, which was previously a relevant shareholder in the country's NotreDame Intermédica.
In the largest merger and acquisition (M&A) deal ever executed in the country between a single individual and a company, Junior will pay R$2 billion for UHG and assume liabilities of about R$9 billion. However, the total amount may be higher due to possible disputes.
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This was the strategy behind the offer from Junior, who is taking on the business behind closed doors, even at the risk of facing potentially higher expenses in the future.
What changes for customers?
According to information received from the Money Times portal, to provide relief to the 5.4 million beneficiaries of the network, a change in management cannot impose changes and amendments, because according to the law, the customer has the right to continue enjoying what he contracted with the company.
According to what Procon-SP told Estadão newspaper, clients are subject to the protection of the law, in order to maintain the level of quality, quantity and location of the services provided.
“In cases of partial or total portfolio acquisition, the supplier absorbing the health plan company must maintain the same terms of the plan and the signed contract,” says Robson Campos, legal director of Fundação Procon de São Paulo.
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