CUF, controlled by the José de Mello Capital group, has signed an agreement to buy a 75% stake in the Algarve group HPA Saúde, which has the largest private health network in Madeira, controlling the Hospital Particular da Madeira, the Madeira Medical Centre and B.clinic.
In addition to being a leader in Madeira, the HPA Saúde group has the largest network of hospitals in the Algarve and Alentejo.
Founded in 1996, the HPA Health Group consists of five hospitals and 17 clinics. However, CUF is a national health care provider working through 12 hospitals, 17 clinics, and an institute.
The CUF network, with a total of 30 hospitals and clinics, is present in Lisbon, Porto, Almada, Montijo, Barreiro, Oeiras, Cascais, Sintra, Mafra, Torres Vedras, Santarém, Leiria, Coimbra, Viseu, S. João da Madeira, Matosinhos, São Miguel in the Azores, Penafiel, Paredes, Lousada and Marco de Canaveses. And now, Madeira.
The information was released through a statement sent to the Portuguese Securities Market Commission and, according to the newspaper Eco, “the acquisition contract between the shareholders of the two companies provides for the strengthening of this position over the next four years.”
In the information communicated, the executive president of CUF, Rui Diniz, considers that “this operation represents not only the union of two organisations with extensive experience in the health care area, but also an opportunity to strengthen and expand the quality of the services provided. We believe that this partnership will bring significant benefits to those who entrust us with their health, as well as to the professionals of both institutions, who will be able to grow in an environment of collaboration, development, and knowledge sharing.”
“This partnership agreement, between the largest health group in the Algarve, Alentejo and Madeira region and the largest national private health group, represents an opportunity to continue to grow with differentiation and innovation, with benefits for those who use us, as well as for all the professionals who, over so many years, contributed and contribute to the notoriety of the HPA group”, commented the President of the HPA Health group, João Bacalhau.
The conclusion of this deal is subject to the usual regulatory approvals, namely the verification of the conditions provided for in the agreement – including precedents – and the formal notification to the Competition Authority (AdC), as well as the non-opposition of this regulator.”
Samantha Gannon
info at madeira-weekly.com
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