Oncoclínicas (ONCO3.SA), Brazil’s largest cancer treatment network, has sold the Marcos Moraes Hospital in Rio de Janeiro to Hapvida (HAPV3.SA), according to a report by Valor Econômico. The deal combines cash and debt assumption as Hapvida accelerates expansion in the Rio market.
The divestment is part of a broader restructuring plan. Oncoclínicas is in advanced talks to sell the Uberlândia Medical Center (UMC) in Minas Gerais and to scale back its presence in Saudi Arabia, where it operates a joint venture with conglomerate Al Faisaliah. A hospital in Belo Horizonte has also been placed on the block. None of these units are oncology-focused and all generate negative Ebitda.
The company aims to raise about R$300 million through asset sales and debt reduction. Oncoclínicas ended the second quarter with leverage of 4.4 times Ebitda and a cash burn of R$570 million. The Saudi venture, still pre-operational, has been criticized by analysts for demanding capital at a time of financial strain. Discussions involve Al Faisaliah taking majority control, with Oncoclínicas retaining a minority stake focused on medical expertise rather than financial contribution.
Hapvida, which recently announced R$380 million in organic investments, has identified Rio as a key market for growth. “We could pursue smaller acquisitions,” CEO Jorge Pinheiro told analysts in a recent earnings call. The Marcos Moraes Hospital, located in Méier in northern Rio, has about 80 beds.
Oncoclínicas declined to comment on market speculation, and Hapvida has not responded.
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