Oncoclinicas (ONCO3) Buys Unimed-Rio Chips at Ceon and Marcos Moraes Hospital for R$350 Million – Money Times

a Oncology clinics (ONCO3Signing a share purchase contract Unimed Rio in the Center of Excellence in Oncology (Sion) and the Marcos Moraes Hospital, in a deal valued at around RO 350 million, the cancer-focused company said on Thursday.

As a result, Oncoclinicas indirectly owns 100% of both assets.

Ceon is a joint venture between the Company and Unimed-Rio and is located in Barra da Tijuca for the outpatient treatment of oncology and immunoinflammatory syndromes. Oncoclínicas agreed to buy the 50% stake in the center which it still did not own.

Marcos Moraes Hospital, in Meyer, is a cancer treatment center. The transaction included the acquisition of 49.99% of the assets by Oncoclinicas.

Oncoclinicas said in a physical fact, the deal will be paid partly into the balance of receivables owed by Unimed-Rio and partly in cash, in three annual installments — the first on the deal’s closing date — each of the payment methods.

Oncoclínicas stated that the deal, which is still dependent on approval by the Administrative Council for Economic Defense (Cade), will allow the company to reduce minority participation in its results and advance “its agenda of improving the financial structure”, given that it will pass to own 100% of two other subsidiaries in a form not directly.

The agreement was signed by Oncoclinica Oncology Center, a subsidiary of Oncoclinicas.