Singapore’s Temasek Holdings acquires stake in Brazil’s Clinica SiM: Report

Photo by Henk Vrieselaar on Unsplash

Singapore state investor Temasek Holdings has acquired a stake in Brazil’s Clinica SiM, a network of private clinics, according to a report by the Brazil Journal.

The investment was closed at the end of 2017, the report added. No financial terms of the investment in Clinica SiM were disclosed.

The clinic network enjoys the financial backing of Brazilian angel investors such as Rodrigo Galindo, CEO of Kroton; Carlos ‘Degas’ Filgueiras, CEO of DeVry in Brazil; and venture capitalist Joaquim Ribeiro. Other backers include Monashees, a venture capital fund manager that has backed ventures such as 99 Taxis – which was recently acquired by Didi Chuxing – and Viva Real.

Temasek Holdings, which as at 31 March 2017 reports a portfolio of assets under management worth S$275 billion ($209.7 billion), sees Latin America, Africa and Central Asia account for 4 per cent of its portfolio’s value.

Its last publicly disclosed transaction in Latin America was its participation in a Series C investment in market intelligence firm Neoway, in a financing round that involved major investors such as PointBreak, Pollux and Andrew Prozes, Accel Partners, Monashees and Endeavor Catalyst. This Series C financing saw Neoway establish offices in Portugal, India, Mexico and Colombia. 

Clinica SiM offers low-cost consultations and maintains a regional focus on Brazil’s Northeast. It currently has a network of 15 clinics that will expand to between 20 and 25 clinics by the end of 2018. 

Its clinics reportedly take between six to eight months to reach breakeven, with the return on equity starting between 24 and 48 months. The firm’s strategy involves establishing an anchor clinic that can service 25 specialties, including cardio and neurology, and building a network of satellite clinics that offer more basic services such as dentistry, dermatology and gynaecology, and serve as feeders for the anchor clinic. 

Currently, the firm has about 650 employees, doctors and dentists, a number it predicts will grow to 900 by the end of 2018. 

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