With debts, Santa Casa de São Paulo sells Santa Isabel Hospital operation – 10/27/2021 – Equilíbrio e Saúde

The management board of Santa Casa de Misericórdia in São Paulo, which controls Santa Casa de São Paulo, unanimously approved on Wednesday (27) the sale of Santa Isabel Hospital for R$280 million. Rede D’Or Sao Luiz.

Founded in 1972, the unit is exclusively dedicated to serving health plan clients and special patients. The building contains 124 beds, 35 of which are Intensive Care Units (ICU).

Santa Casa intends to use the money from the sale and also from renting the property to Rede D’Or to reduce its debts, It is about 400 million Brazilian riyals, as well as investing in SUS patient care.

a a sheet It found that renting the unit would bring Santa Casa an annual revenue of R$10 million, higher than the R$8 million that Santa Isabel Hospital currently receives. Negotiations began about 60 days ago.

In addition to renting, Rede D’Or has committed to investing in the renovation of nearly 3,000 square metres² From the hospital complex to the care of patients with SUS.

In a statement, Santa Casa emphasized that Rede D’Or is one of the largest employers in the country, and that employees of Santa Isabel Hospital should maintain their professional activities as normal. The unit is located in the Higienópolis district in downtown São Paulo.

“The Foundation is cleaning up its banking indebtedness and will therefore continue to search for sustainability, and will resume its investment capacity and care for SUS patients, by modernizing and expanding our facilities, furthering its mission and its 460-year legacy in health services.”, states the note.

Founded in 1977, Rede D’Or currently has 60 hospitals in the country. In July, the company closed an agreement for Buy Santa Emilia Hospital, in Feira de Santana, the second most populous city in Bahia.

At the end of 2020, the group priced, until then, biggest subscription (Initial Share Offering, English acronym) for a Brazilian company since 2013. The operation valued the company at R$112.5 billion, making it among the country’s top 10 listed companies.

The purchase of the Santa Casa Hospital unit by a large business group could lead to other similar negotiations.

I 2017, o The federal government has established a line of credit R$10 billion for Charitable Hospitals and Santas Casas, which have a total debt of R$21 billion.

in 2018, In the midst of its biggest financial crisis, a Santa Casa owed 700 million Brazilian riyalsWith a monthly deficit of 14 million Brazilian riyals.

Without money to pay for surgical supplies, such as needles, sutures, and gloves, the hospital launched a project where individuals and companies could donate surgical kits to treat patients.