Deal sheet
- Sector
- Healthcare
- Mandate
- Sell-Side
- Year
- 2023
- Country
- Brazil
Care Plus completed the acquisition of Inpao Dental.
JK Capital acted as exclusive financial advisor to Inpao Dental.
About the deal
About Inpao Dental
Inpao Dental is a dental plan operator founded in 1964, with a strong national presence in class C, with about 185,000 beneficiaries.
About Care Plus (Bupa)
Care Plus is a 32-year-old premium health operator, controlled by the British company Bupa since 2016, with 112,600 lives in medical plans, 85,000 in dentistry and about 100,000 in occupational health, and more than R$500 million reserved for acquisitions in 2023-2024.
Transaction rationale
This acquisition aims to scale Care Plus in dentistry, a low ticket segment and low accident rate: the dental portfolio jumps from 85,000 to 270,000 lives and the operator opens itself to less affluent audiences, in a market in which only 15% of Brazilians have dental insurance. Inpao's partners prioritize cultural compatibility and the long-term horizon of an unlisted buyer.

