Medical Industry: Company in Costa Rica is Acquired

The American business group Sandford Health acquired 12.5% of the shares of the companies of the Montecristo Group.

Tuesday, July 23, 2019

Both companies reported that they reached an agreement for Sandford to acquire part of the shares of the Montecristo Group companies, such as Hospital Metropolitano, Medismart, Labinclinic, Drs Dent and Laboratorios Páez.

Elobservadorcr.com reviews that "... The rapprochement between the parties dates back to January 2018, when Sanford and the Metropolitan signed a cooperation agreement. With this agreement the exchange of knowledge was sought in operational activities, training of employees and development of centers of excellence."

You may be interested in "Hospital Investments Announced"

Francis Durman, executive director of the Montecristo Group, said they are satisfied "... to consolidate our business relationship, because Sanford Health is one of the largest and most dynamic groups in the United States in the business of hospitals, clinics and everything related to health, because of its multiple acquisitions in the United States'."

As a result of the merger, the business groups hope to expand medical services within the current points of care in Costa Rica and also train their employees.

Sanford Health, which enters the Costa Rican market, already operates in 26 U.S. states and nine other countries. In total, it has 44 hospitals, 482 clinics and 200 care centers for older adults.

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More on this topic

Private Hospital Announces New Investments

November 2020

In Costa Rica, the Hospital Metropolitano announced that in the next three years it will invest in the opening of four new locations and in the expansion of services in some branches that already operate.

Although no further details are provided regarding the locations of the new headquarters of the business group, directors of Grupo Montecristo, the main shareholder of Hospital Metropolitano, said that the establishments will operate inside and outside the Central Valley.

Costa Rica: Hotel Changes Ownership

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The group formed by Garnier & Garnier Desarrollos and Enjoy Group acquired 100% of the shares of Hotel Punta Islita, which is located in Guanacaste and was previously owned by Grupo Islita.

The companies participating in the transaction informed through a statement dated November 1, that after the sale of the hotel, the enclosure will undergo a process of improvement and expansion.

Supermarket Chain Sold in Panama

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In Panama, the owners of Grupo Rey agreed to sell 60% of the shares to Ecuador's Corporacion Favorita, a transaction that could cost $273 million.

The Share Acquisition Public Offer (OPA) launched by Corporacion Favorita was established at $8.58 per share, in which the Ecuadorian group committed to purchase 60% of the issued shares, for which it will acquire approximately 31.8 million shares.

Grupo Montecristo Acquires Clinica Metropolitana

October 2010

Group Montecristo established a business alliance by taking over the Costa Rican hospital´s stock.

Dr. Roberto Herrera, Medical Director, stated that this infusion of capital ensures the strengthening of health services, expansion of facilities such as the acquisition of a parking lot adjacent to the Hospital, the purchase of the lots beside the medical center and the establishment of a master development plan.

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