Brazil Healthcare Services: Takeaways from Meeting with A.C.Camargo

研报英文原文证据摘录

Brazil Healthcare Services: Takeaways from Meeting with A.C.Camargo

Flash |

08 Jul 2026 17:30:29 ET │ 9 pages

Brazil Healthcare Services

Takeaways from Meeting with A.C.Camargo

CITI'S TAKE

Today we hosted a fireside chat with Mr. Maron Marcel Guimarães, CFO of

A.C.Camargo Cancer Center, one of Brazil’s reference institutions in

oncology. The discussion covered A.C.Camargo’s growth trajectory,

oncology treatment dynamics, payment models, risk-sharing initiatives, Leandro Bastos, CFAAC

payer negotiations, and the competitive landscape. Please see below for +55-11-4009-3125

the main topics discussed. leandro.bastos@citi.com

Renan Prata, CFA

A.C.Camargo overview and growth trajectory: The institution currently handles +55-11-4009-3917

approximately 16,000 new cancer cases per year and has around 60,000 patients renan.prata@citi.com

under treatment. Management noted that cancer incidence has increased

meaningfully, while the patient profile has also changed, with dedicated areas for

pediatric and young adult oncology. A.C.Camargo’s core differentiation remains its

full patient journey and coordinated care model. Moreover, the institution has been

growing at double-digit rates year after year, supported by incremental volume

growth and a rising average ticket.

Margins, profitability, and operating model: Management indicated that primary

margin (sales – drug costs) is around 40-45%. EBITDA margin can reach

approximately 17% excluding PROADI, while post-PROADI margin declines to

around 9-10%. PROADI-SUS is a Ministry of Health program through which leading

non-profit hospitals allocate tax-exemption-related resources to projects that

support and strengthen Brazil’s public healthcare system. Chemotherapy was

highlighted as the most profitable treatment line.