Fund to invest US$ 100 million in medical infrastructure in the country
Folha de S. Paulo
With an eye on the health market that generates R$ 220 billion (US$ 129.4 billion) a year in the country, the Brazilian groups Inseed, of investments, and UniPartners, technology services, entered into a partnership for the creation of a fund dedicated to buying interest in companies. Named Tecnus, the fund starts its operation in January with R$ 170 million (US$ 100 million) in cash, funds raised with pension funds and family offices.
The goal is to buy interest in 16 companies operating in the fields of telemedicine, health equipment rental or hospital management software developers. According to the companies, Brazil currently has nearly 7,000 hospitals, 70% of which have less than 80 beds. Of that total, only 10% have specific management systems. Another focus are companies that render home medical services and offer distance monitoring centers, which can be hired upon a monthly payment. "The targets are companies with earnings between R$ 6 million (US$ 3.5 million) and R$ 20 million (US$ 11.8 million), with business models that are already established and ambition to grow", says Jack Cavalcanti, UniPartners Prospecting Officer.
The first operations are scheduled to take place before June 2011 and they foresee the purchase of minority interests, with investments of up to R$ 7 million (US$ 4.1 million). Should a second round of investments be required, Tecnus can buy the control of the companies, with investments of up to R$ 8 million (US$ 4.7 million). "Today there are between 150 and 200 companies with that investment potential profile in Brazil", says João Francisco, of the management area of UniPartners.