Amil Acquires Health Insurer

Amil Participacoes, a Brazilian holding company focused on the medical sector, says it is acquiring a 51.9% stake, or 36.2m shares, in medical insurance provider Medial Saude for BRL612.5m in cash. The buyer says in a regulatory filing that with this transaction, its market share in Sao Paulo will increase to 15.1% from 7.9% and in Brazil to 10.1% from 6.2%. It will also have a total of 4.2m health plan beneficiaries and almost a million dental plan beneficiaries. The transaction is subject to approval by the National Supplementary Health Care agency and will then be submitted to the Brazilian anti-trust authorities.