February 28, 2024

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Latin American healthcare company Auna files for US IPO – 09-01-2024

Latin American healthcare company Auna files for US IPO – 09-01-2024

Auna, a healthcare provider with operations in three Latin American countries, filed for an initial public offering on the New York Stock Exchange on Tuesday.

The company, founded in Peru in 1989, plans to issue Class A shares in the offering, but did not disclose the size it plans to offer or how much it plans to raise.

Auna manages 15 hospitals with 2,301 beds in Mexico, Colombia and Peru, and also offers health and dental insurance and oncology care.

The company, controlled by Peruvian private equity firm Enfoca, is the largest health insurance provider in Peru with a 29.3% market share, according to a filing with the US Securities and Exchange Commission.

For the full year 2022, Auna posted revenue of $646.3 million, with a net loss of $20.2 million. At the end of September 2023, the company's liabilities stood at $1.51 billion.

The proceeds from the IPO will be used for debt and other general corporate purposes, the company said.

Renaissance Capital analysts estimate the IPO could raise up to $200 million.

Morgan Stanley, JPMorgan, BTG Pactual, Santander, Citigroup and HSBC will coordinate the offering.

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