By Brazil Stock Guide – Hapvida (B3: HAPV3) will launch NotreDame Saúde in August as its dedicated premium health insurance brand, targeting higher-income customers and expanding into a segment traditionally dominated by Bradesco Saúde, SulAmérica and Amil. Sales will begin in the state of São Paulo, with plans to expand to other major Brazilian cities.
The new plans will provide access to hospitals including Albert Einstein, Sírio-Libanês, HCor, Nove de Julho, Mater Dei, Hospital Alemão Oswaldo Cruz, Santa Catarina and Beneficência Portuguesa. The diagnostic network will include Fleury, Alta and Dasa facilities.
NotreDame Saúde will also offer reimbursement for consultations and services provided by doctors and clinics outside its accredited network. Members will have access to a dedicated concierge, website, mobile app and customer-support team to help schedule appointments and tests and navigate the healthcare network.
Hapvida has yet to disclose pricing, an exact sales start date or membership and revenue targets for the new brand. Existing Hapvida customers will continue to receive care under the terms of their current plans, primarily through the company’s own healthcare facilities.
The launch is one of the first major strategic initiatives under Luccas Adib, who took over as CEO on April 30. Adib replaced Jorge Pinheiro, who became chairman, as the company reshuffled senior management amid growing pressure from minority shareholders for stronger operational execution and tighter capital discipline.
“We are strengthening our position in a strategic segment of the supplementary healthcare market,” Adib said. “We will begin in the state of São Paulo, but the goal is to expand the premium model to Brazil’s main state capitals.”
Gian Lucchesi, Hapvida’s vice president for premium health plans, said NotreDame Saúde will focus on continuous care rather than only treating illnesses. Its services will include preventive diagnostics, vaccinations and check-ups designed to anticipate members’ healthcare needs.
More than the revival of a familiar name, the launch signals a change in Hapvida’s commercial architecture. The company built its business around vertical integration, treating most members at its own hospitals, clinics and diagnostic centers — a model designed to give the insurer greater control over medical costs and clinical protocols.
NotreDame Saúde is expected to operate under a more hybrid structure. By contracting leading third-party hospitals, Hapvida can offer a higher-priced product without having to replicate the entire infrastructure required by the premium segment. The trade-off is less direct control over healthcare costs, making pricing and provider agreements critical to the product’s profitability.
The initial architecture will include the Advance 600, Advance 700, Premium 800, Premium 900, Premium 900 Care and Infinity 1000 plans under the new brand identity. The portfolio will feature the Prata, Prata Max, Ouro, Ouro Max, Diamante and Diamante Max tiers, with dedicated membership cards and digital services. Hapvida did not explain how the existing products will correspond to the new tiers.
Adib had already told investors during Hapvida’s first-quarter earnings call that NotreDame would be relaunched through a more asset-light model supported by a broad accredited network. The official rollout will begin in São Paulo before expanding to Brazil’s other major state capitals. Management expects the product to rebuild sales and improve retention within a legacy premium portfolio of about 350,000 members.
The brand belonged to Notre Dame Intermédica, whose business combination with Hapvida was completed in 2022. Its commercial identity subsequently lost prominence as the group integrated the two companies’ operations and technology systems. The relaunch will now give Hapvida a distinct brand for higher-income customers, separate from its traditional mass-market portfolio.
The initiative also addresses a commercial challenge. Hapvida lost a net 44,500 medical-plan members in the first quarter, ending March with 8.68 million. The decline was concentrated largely in São Paulo, the first market selected for the new NotreDame offering.
Despite the membership losses, Hapvida’s results improved sequentially. Net revenue reached R$ 7.89 billion, while its cash medical loss ratio fell to 72.2% from 75.5% in the fourth quarter of 2025. Adjusted Ebitda rose to R$ 803 million and free cash flow totaled R$ 443 million, according to the company’s earnings presentation.
The premium push could help Hapvida increase average revenue per member, improve its customer mix and reduce cancellations. Its success, however, will depend on whether the insurer can combine access to Brazil’s most prestigious hospitals with sustainable margins in a business where it will have less control over medical costs.
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