SAO PAULO, April 13 – Three major Brazilian healthcare companies have called off discussions to form a joint venture, according to a report from local publication O Globo on Monday, which cited unnamed sources.
• Last month, Fleury, Porto, and Oncoclinicas had signed a preliminary agreement that gave them 30 days of exclusive negotiating rights to work out final terms for the partnership.
• The proposed arrangement would have seen Oncoclinicas bring its cancer treatment facilities and liabilities worth as much as 2.5 billion reais (equivalent to $500.44 million) to the new entity.
• Meanwhile, Fleury and Porto had planned to combine forces and put 500 million reais into the venture through a joint holding structure.
• When contacted for comment, representatives from all three companies did not respond immediately.
($1 = 4.9956 reais)
