CUF acquires 75% stake in HPA Saúde Group

Cuatrecasas has advised CUF S.A. (“CUF”) on acquiring a 75% stake in Sociedade Hospital Particular do Algarve S.A. (the “HPA Saúde Group”).

Founded in 1996, HPA Saúde Group began with the Hospital Privado do Algarve in Alvor. It has since expanded to encompass 5 hospitals and 17 clinics. The group has a particularly strong presence in the Algarve and Alentejo regions of southern Portugal, as well as in Madeira.

The Cuatrecasas team, led by Corporate and M&A lawyers Alexandra M. Martins and Luís Miguel Cortes Martins, included Mariana Brazão, from the same practice area; Gonçalo Bastos Lopes, from Tax; Joana Silveira Botelho, from Pharmaceuticals and Health Sciences; Marisa Mirador, from Public Law; Miguel Pena Machete, from Competition and European Union Law; and Sandra Lima da Silveira, from Labor Law.

“This was a complex legal operation that required aligning various interests and considering the intricacies of the HPA Saúde Group. The agreement will enable CUF to maintain its sustained growth and offers clear benefits for users in an area as sensitive as health,” said Luís Miguel Cortes Martins.

The outcome of this transaction is contingent on meeting standard conditions, including necessary regulatory approvals. CUF expects the acquisition process to be “finalized within a four-year window,” “contingent on all conditions established in the agreement being met”.

Cuatrecasas had previously advised CUF on acquiring 13 health units from the miMed network of clinics in Greater Lisbon, owned by Sociedade Francisco Manuel dos Santos. Following this transaction, CUF now operates 43 health units.