SulAmerica Acquiring Dental Insurer

Brazilian insurance company SulAmerica is acquiring dental care provider Dental PLAN for BRL28.5m ($16.8m), or almost 2x 2009 revenue. SulAmerica CEO Thomaz Cabral de Menezes says in a statement that the acquisition will help expand SulAmerica’s presence in the North and Northeast regions of Brazil and allow the company to broaden its range of products and services offered by health and dental care segments. Dental PLAN had revenues of BRL15m in 2009 and has a network of 5,000 dentists. Barclays says this acquisition marks a more solid entrance into a high-growth segment, which is still very fragmented.