The largest health plan has been sold, leaving 5 million customers

Brazil's popular health plan leaves 5 million customers anxious after saying goodbye

The health plan that is hugely popular with customers, which has a huge list of policyholders of more than 5 million, may say goodbye to the public next year.

This is because the company running the group has been sold, meaning customers are now worried about potentially losing their health plan.

This deal was completed in December and the changes will come into effect at the start of 2024, with the group managing it changing.

Is Emil sold?

According to information from Investing Br, businessman José Seripieri Filho, Junior, 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 people monitoring the deal.

Amell was also disputed by businessman Nelson Tanor, of operator Alliança, and US private equity fund Bain Capital, which was previously a relevant shareholder in the country's NotreDame Intermédica.

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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 from Money Times for the relief of 5.4 million beneficiaries of the network, the change in management cannot force changes and modifications, because under the law, the customer has the right to continue to enjoy what he contracted with the company.

In other words, according to what Procon-SP told Estadão newspaper, customers are protected by 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 plan terms and signed contract.”“, says Fundação Procon de São Paulo Legal Director, Robson Campos.