General Atlantic has made a minority equity investment in Qualicorp Group, a Brazilian provider of healthcare brokerage and benefits administration services. No financial terms were disclosed.
Qualicorp Group (Qualicorp), formed by the companies Qualicorp Corretora de Seguros, Access Clube de Benefícios and Access Administração e Serviços, and one of the Brazilian leaders in healthcare brokerage and benefits administration services, announced today that it has received an investment from General Atlantic LLC (GA), a global growth equity firm. GA´s strategic minority investment will be used to support Qualicorp´s continued growth and expansion. The amount and terms of the investment were not disclosed.
“General Atlantic has an established reputation as a long-term, value-added investor and partner to growth companies throughout the world”, said Mauricio Ceschin, President of Qualicorp Group. “Moreover, GA’s deep expertise and strong global network in the healthcare segment will be extremely valuable to Qualicorp, as it will help us as we pursue our growth plans. The association with GA will strengthen our capacity to aggressively expand our product and service portfolio, to enter new markets and to meet our strategic growth objectives. We are looking forward to this collaboration”.
“Qualicorp has built an excellent market reputation and is led by a management team that is among the most respected in the Brazilian healthcare segment”, said Jonathan Korngold, a managing director of General Atlantic and head of the firm’s healthcare sector. “We are very excited to partner with Qualicorp, and we believe that the company is uniquely positioned to support and benefit from the continued growth of the private healthcare market for years to come”. Mr. Korngold will join Qualicorp’s Board of Directors as part of the transaction.
As a market leader, Qualicorp provides insurance and benefits from many suppliers, as well as customized and outsourced administration services to affinity groups and corporations. Qualicorp’s services allow some of the most well respected professional associations and corporations in Brazil to offer their members and employees a selection of high-quality private health plans, among other benefits, at affordable prices. Today, the company has 68 customers in the segment of affinity groups, including the Brazilian Superior Court of Justice – STJ, National Association of Federal Judges – AJUFE, National Association of Federal Attorneys – ANPR, Association of the Civil Servants of the State of Sao Paulo – AFPESP, Sao Paulo Association of Medicine – APM, Lawyers Assistance Fund of the States of Rio de Janeiro and Sao Paulo – CAARJ-OAB/RJ and CAASP-OAB/SP, the Federations of Commerce of the States of Sao Paulo, Rio de Janeiro, Bahia and Federal District, in addition to many regional professional boards (engineering, economics, accounting and others). The Corporate segment`s 151 customers, from the most areas of activity, include Abbott Labboratories, Aché Labboratories, Cargill, Comgás, Danone, Goodyear, Klabin, Leader Stores, Magneti Marelli, Mahle, Mapfre, Promon, Record TV, UBS Pactual and Volkswagen.
One of the world’s leading global growth equity firms, General Atlantic is focused on providing capital and strategic support to high-growth companies. GA has a long-term investment horizon and an active, value-added approach to investing in both public and private companies n a global basis. GA has been an active investor in the healthcare sector, with a number of investments in innovative companies, such as Emdeon Business Services, MultiPlan, Schaller Anderson, WagnerStibbe, Wuxi Pharmatech, CompuGroup and Eclipsys. Qualicorp represents GA’s fourth investment in Latin America, including its investments last year in BM&F/Bovespa in Brazil and MercadoLibre in Argentina.
About Qualicorp Group
Qualicorp Group is one of the Brazilian leaders in healthcare brokerage, as well as in benefits administration services. The company that originated the Group was founded in 1997. The company’s operations are divided into two lines of business: Corporate and Affinity Groups. The Corporate business works with corporations to enable, offer, implement and advise the management of health plans, among other benefits, for their employees. The Affinity Group business contracts with professional associations and unions to provide collective health plans, among other benefits, to their members. The companies Qualicorp Corretora de Seguros, Access Clube de Benefícios and Access Administração e Serviços form Qualicorp Group and are also part of the transaction with GA.
For more information on Qualicorp, visit www.qualicorp.com.br.