SulAmerica, a Brazil-based independent insurance group, has signed a share purchase agreement for the acquisition of Dental Plan, a dental care provider in the North and Northeast regions of Brazil, for $16.79m.
Through this acquisition, SulAmerica will increase its presence in the country, taking in a portfolio of more than 122 thousand members mostly concentrated in corporate clients, and further strengthening its position in the dental care segment, which portfolio now totals more than 385 thousand members.
SulAmerica CEO Thomaz Cabral de Menezes said that 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 SulAmerica to broaden the range of products and services offered by health and dental care segments.
Dental Plan has a network of more than 5 thousand service providers.
The completion of the acquisition is subject to prior approval by the Agencia Nacional de Saude - ANS (National Health Agency).