SulAmerica Enters into Contract to Acquire Dental PLANBy Sulamerica, PRNE
Monday, December 13, 2010
The acquisition will increase dental care portfolio by more than 30%
SAO PAULO, December 14, 2010 - SulAmerica (BM&FBovespa: SULA11) announced today the signing of a share
purchase agreement for the acquisition of Dental PLAN Ltda., one of the major
dental care providers in the North and Northeast regions of Brazil, which has
also shown a significant growth in the Southeast region.
Through this acquisition, which is for R$28.5 million, SulAmerica will
increase its presence in the above-mentioned regions, taking in a portfolio
of more than 122 thousand members mostly concentrated in corporate clients,
further strengthening its position in the dental care segment, which
portfolio now totals more than 385 thousand members.
"This is a significant operation for SulAmerica, strengthening its
position in a strategic segment with a high growth potential", said the CEO
of the company, Thomaz Cabral de Menezes. "The portfolio of Dental PLAN is
relevant, not only for what it may represent in terms of expanding
SulAmerica's presence in the North and Northeast regions, but also to allow
us to broaden our range of products and services offered by health and dental
Menezes also comments that Dental PLAN, during its 20 years of operation,
has developed a solid relation with its wide portfolio of clients, being
recognized for the quality of its services. Dental PLAN has a network of more
than 5 thousand service providers.
According to data from the Agencia Nacional de Saude - ANS (National
Health Agency), the dental segment has shown strong growth, reaching more
than 13.6 million people in June 2010, an increase of 13.2% over the previous
year. The development potential of this market has attracted great interest
and motivated relevant consolidation movement.
The conclusion of the acquisition is subject to prior approval by the
Agencia Nacional de Saude - ANS (National Health Agency).
SulAmerica Seguros e Previdencia is one of the largest business
conglomerates in Brazil with 115 years of history, operating in the segments
of insurance, pensions and investments. Its strong presence throughout the
country has been consolidated by the growth of the company, which posted net
income of R$ 130.9 million in the third quarter of 2010. With more than 5.5
million clients, SulAmerica is divided into four business units: health, auto
and other P&C, life and private pension and asset management.
Daniela Campos, +55-11-3779-5045, or Solange Guimaraes, +55-11-3779-7614, both of SulAmerica - Superintendence of Press Relations, imprensa at sulamerica.com.br
Tags: Brazil, December 14, Sao paulo, SulAmerica, United Kingdom