Açoriano Oriental
CUF to acquire International Hospital of the Azores

The agreement with the current shareholders provides for the acquisition of all the capital of the private hospital, opened in 2021 in Lagoa

CUF to acquire International Hospital of the Azores

Autor: Paula Gouveia

CUF and the shareholders of HIA - Hospital Internacional dos Açores, S.A., established "an agreement in principle" for the acquisition of the hospital unit, opened in March 2021 in Lagoa, São Miguel Island.

The announcement was made by the International Hospital of the Azores: "the implementation of this operation is still dependent on the previous steps provided for in the agreement, as well as its prior notification and non-opposition by the Competition Authority".

According to the same statement, CUF considers that the extension to the Azores of its network of hospitals and clinics is "a reason for great satisfaction, allowing us to serve this archipelago with our 77-year experience in the provision of health care and, thus, contributing to strengthen the offer of differentiated and quality care in the region".

In the statement, it is said that CUF "highlights the quality of the work developed by the current HIA team - led by Luís Miguel Farinha - and hopes to continue working with it in the future".

As for HIA's shareholders, "the entry of CUF into the total capital of HIA S.A. is a cause of great satisfaction and an asset for the project".

As stated, “this new phase further strengthens and extends the capacity that HIA has already demonstrated, by contributing to the clinical differentiation in the Autonomous Region of the Azores”.

Opened in March 2021, HIA's service ranges from urgent care, operating room, hospitalization, intensive care, to special exams, among others.

For the current shareholders, "in line with the initial strategy of the International Hospital of the Azores - which provides a differentiated installed capacity and a global offer of excellence -, the experience and dimension of CUF in the national market will guarantee, from the outset, a line of continuity in a culture based on quality and safety, through the adoption of best practices in terms of clinical protocols, investment in human capital and continuous improvement of its global performance".

According to recent information from the Regional Government, the corporate structure of HIA is composed of DiagonalStream (63%), Lisbon Angels SGPS (36%), and one cardiologist. HIA also benefited from the Incentive System for Business Competitiveness (COMPETIR +). The total investment, after financial reprogramming, amounted to 36.039.499, 48 Euros, with an expected support of 14.930.556, 25 Euros.

The CUF network comprises nine hospitals, eight clinics and one institute, in Lisbon, Porto, Almada, Oeiras, Cascais, Sintra, Mafra, Torres Vedras, Santarém, Coimbra, Viseu, São João da Madeira, Matosinhos.

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