The healthcare sector is undergoing an accelerated consolidation process on the Brazilian stock exchange, which is expanding the space for large groups. This trend is expected to continue, according to Max Bohm, strategist at Nomos, in an interview with Janela de Mercado , a NeoFeed program that gives voice to some of the leading names in equity strategy in Brazil.
Improvements in employment and income tend to broaden the population's access to health plans, in a country where relying exclusively on the public system is still a significant challenge. "We should see a continuation of this consolidation, with large groups gaining a presence in Brazilian territory," says Bohm.
Within this scenario, there are three types of companies. The first are those that have best managed to capture the gains from recent consolidation, with improved margins and financial deleveraging.
Next, we see those that are in a more mature stage, with more moderate growth, but strong cash generation and dividend distribution. And finally, there are the companies facing operational challenges, such as increased costs and claims.
"It's a growing sector, but one that demands close attention to costs and claims, because any slip-up directly impacts margins," says the strategist.
For the investor, therefore, the strategy is less about "being in or out of" the sector and more about understanding which companies can balance growth with operational efficiency.
Watch the video above to understand which healthcare stocks Bohm recommends investing in right now.
