SAO PAULO, Dec. 14, 2010 /PRNewswire-FirstCall/ -- 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$28.5 million, SulAmerica will increase its presence in the above-mentioned regions, taking in a portfolio of more than 122 thousand members mostly concentrated in corporate clients, further strengthening its position in the dental care segment, which portfolio now totals more than 385 thousand members.
"This is a significant operation for SulAmerica, strengthening its position in a strategic segment with a high growth potential", said the CEO of the company, Thomaz Cabral de Menezes. "The portfolio of Dental PLAN is relevant, not only for what it may represent in terms of expanding SulAmerica's presence in the North and Northeast regions, but also to allow us to broaden our range of products and services offered by health and dental care segments".
Menezes also comments that Dental PLAN, during its 20 years of operation, has developed a solid relation with its wide portfolio of clients, being recognized for the quality of its services. Dental PLAN has a network of more than 5 thousand service providers.
According to data from the Agencia Nacional de Saude - ANS (National Health Agency), the dental segment has shown strong growth, reaching more than 13.6 million people in June 2010, an increase of 13.2% over the previous year. The development potential of this market has attracted great interest and motivated relevant consolidation movement.
The conclusion of the acquisition is subject to prior approval by the Agencia Nacional de Saude - ANS (National Health Agency).
SulAmerica Seguros e Previdencia is one of the largest business conglomerates in Brazil with 115 years of history, operating in the segments of insurance, pensions and investments. Its strong presence throughout the country has been consolidated by the growth of the company, which posted net income of R$ 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.