Auna Raises US$360 Million in Gross Proceeds via NYSE IPO, Marking Its Debut in the International Equity Markets

Rhea-AI Summary

Auna, a Latin American healthcare company, has launched its IPO on the NYSE under the ticker symbol AUNA, raising US$360 million. The company reported 2023 revenues of US$1.05 billion and Adjusted EBITDA of US$223 million, up 58% and 90%, respectively. Auna aims to transform healthcare in Latin America by providing quality services in Spanish-speaking countries, with a focus on prevention and high complexity diseases.

Positive

• Auna raised US$360 million in gross proceeds through its IPO on the NYSE.
• The company reported 2023 revenues of US$1.05 billion and Adjusted EBITDA of US$223 million, showing significant growth.
• Auna is the first Latin American healthcare company listed in the US and marks the first healthcare IPO in Spanish Speaking Latin America since 2018.
• The company's mission is to transform healthcare in Latin America by providing integrated healthcare services in Spanish-speaking countries.
• Auna's focus on prevention and high complexity diseases aligns with the region's healthcare needs.
• The healthcare market in Spanish Speaking Latin America is estimated to reach US$469 billion by 2028, providing a significant opportunity for Auna.

Negative

• None.

Financial Analyst

The IPO of Auna S.A. and its subsequent listing on the New York Stock Exchange is a significant event for the company and the broader healthcare sector in Latin America. The financial figures reported, with revenues surging to US$1.05 billion and Adjusted EBITDA to US$223 million, indicate robust growth, reflecting a 58% and 90% increase respectively. The expansion of the Adjusted EBITDA margin to 21.3% is particularly notable, suggesting improved operational efficiency and profitability. This performance could attract investor interest in Auna, as margin expansion is often a key indicator of a company's ability to scale effectively while maintaining cost controls.

Moreover, the healthcare market in Latin America is poised for growth, with estimates indicating a potential increase from US$313 billion to US$469 billion by 2028. Auna's IPO could provide the necessary capital to capitalize on this growth, potentially funding expansion and the enhancement of its service offerings. Investors would do well to monitor Auna's execution of its growth strategy and its impact on future financial performance, especially in the context of the nearshoring economy of Mexico and the overall healthcare demand in the region.

Healthcare Market Analyst

Auna's integrated healthcare model, which combines a network of 31 facilities with a portfolio of oncological and health plans, addresses a critical gap in Latin America's healthcare infrastructure. The focus on high complexity diseases and prevention is strategically aligned with global healthcare trends toward value-based care. By prioritizing patient-centered approaches and quality, Auna is positioning itself to take advantage of the under-served healthcare markets in the region.

The company's successful IPO not only reflects confidence in its business model but also underscores the attractiveness of the Latin American healthcare sector to global investors. The fact that Auna is the first healthcare services company from Spanish-speaking Latin America listed in the US since 2018 is indicative of the market's potential for disruption and growth. Stakeholders should consider the scalability of Auna's model, the regulatory environment and the competitive landscape as these factors will influence the company's ability to leverage its IPO proceeds to capture market share and deliver sustained growth.

Economist

The healthcare sector in Latin America is at an inflection point, driven by demographic shifts and economic developments such as nearshoring. Auna's IPO injects not only capital but also confidence into the region's healthcare ecosystem. The increased access to integrated healthcare services can have a multiplier effect on the economy, potentially improving workforce productivity and attracting further investment into the sector.

However, it is essential to consider the broader economic context. While the nearshoring economy of Mexico presents opportunities, it also comes with challenges such as currency fluctuations, political instability and varying healthcare regulations across countries. These factors can affect Auna's expansion plans and operational costs. Investors should weigh these macroeconomic considerations alongside the company's financials to assess the potential risks and rewards of investing in Auna's growth trajectory.

• Auna’s mission is to transform healthcare in Latin America, providing access to a highly integrated offering of quality healthcare services in Spanish-speaking Americas.

• Auna has built one of Latin America´s largest modern healthcare platforms, with presence in Mexico, Colombia and Peru.

• 2023 revenues of US$1.05 billion and Adjusted EBITDA of US$223 million, up 58% and 90%, respectively, with Adjusted EBITDA margin expanding to 21.3% from 17.7% in 2022.

• This is the first Latin American healthcare services company listed in the US and marks the first healthcare IPO in Spanish Speaking Latin America since 2018.

LUXEMBOURG--(BUSINESS WIRE)-- Auna S.A. (NYSE: AUNA) (“Auna” or “the Company”), a Latin American healthcare company with operations in Mexico, Peru and Colombia, today announced it has launched its Initial Public Offering (“IPO”) on the New York Stock Exchange and has begun trading under the ticker “AUNA”. The Company raised US$360 million in gross proceeds by issuing 30,000,000 million class A shares (“class A shares”), at a price of US$12.00 per class A share.

Suso Zamora, Executive Chairman of the Board and President of Auna, said: “Auna’s listing on the New York Stock Exchange today is a major milestone for our Company and reaffirms our mission to transform healthcare in Spanish-speaking Latin America by providing the region’s rapidly growing population with access to highly integrated healthcare. Our debut in the international equity markets is also the culmination of the hard work and dedication of the doctors, nurses, managers and many other colleagues who have helped create one of the region’s largest and most modern healthcare platforms.”

Mr. Zamora added: “Through Auna’s horizontally integrated network of 31 healthcare facilities and our vertically integrated portfolio of oncological and other health plans for over 1.3 million members, we provide access to improved healthcare in the region’s under-served markets. And as we expand, we will continue prioritizing prevention and concentrating on high complexity diseases that contribute the most to healthcare expenditures, all while remaining patient-centered and committed to the highest standards of care, quality, and patient safety.”

For the full year 2023, Auna reported revenues of US$1.05 billion and Adjusted EBITDA of US$223 million, representing increases of 58% and 90%, respectively. Adjusted EBITDA margin for 2023 expanded to 21.3% from 17.7% in the prior year. Auna’s opportunity to bring healthcare access is underpinned by Mexico´s nearshoring economy and a healthcare market in Spanish Speaking Latin America of approximately US$313 billion, estimated to reach US$469 billion by 2028.

The offering is expected to settle on or about March 26, 2024, subject to customary closing conditions. In connection with the offering, Auna has granted the underwriters a 30-day option to purchase up to an additional 4,500,000 class A shares at the initial public offering price.

A registration statement on Form F-1 relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (“SEC”). Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Auna 
Auna is a Latin American healthcare company with operations in Mexico, Peru and Colombia, prioritizing prevention and concentrating on high complexity diseases that contribute the most to healthcare expenditures. Our mission is to transform healthcare by providing access to a highly integrated healthcare offering in the underpenetrated markets of Spanish Speaking Americas. Founded in 1989, Auna has built one of Latin America´s largest modern healthcare platforms that consists of a horizontally integrated network of healthcare facilities and a vertically integrated portfolio of oncological plans and selected general healthcare plans. As of December 31, 2023, Auna’s network included 31 healthcare network facilities, consisting of hospitals, outpatient, prevention and wellness facilities with a total of 2,308 beds, and 1.3 million healthcare plans. Auna will begin trading on the NYSE on March 22, 2024 under ticker symbol “AUNA”.

For more information visit www.aunainvestors.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240322798049/en/

For more information for financial analysts, investors and financial press:

Auna Investor Relations, contact@aunainvestors.com

Source: Auna S.A.

FAQ

What is the ticker symbol for Auna on the NYSE?

Auna's ticker symbol on the NYSE is AUNA.

How much did Auna raise in gross proceeds through its IPO?

Auna raised US$360 million in gross proceeds through its IPO on the NYSE.

What were Auna's 2023 revenues and Adjusted EBITDA?

Auna reported 2023 revenues of US$1.05 billion and Adjusted EBITDA of US$223 million, up 58% and 90%, respectively.

Where does Auna operate?

Auna operates in Mexico, Peru, and Colombia.

What is Auna's mission?

Auna's mission is to transform healthcare in Latin America by providing access to integrated healthcare services in Spanish-speaking countries.