In a move already expected by the market, Alliança Saúde, which owns brands such as CDB, Cedimagem, Axial, and Delfin, informed the market this Wednesday, August 5th, that it has filed a request for approval of its extrajudicial recovery plan with the 2nd Bankruptcy and Judicial Recovery Court of the São Paulo District.
In the relevant fact disclosed this morning, the diagnostic medicine group noted that the plan in question, presented jointly with its main subsidiaries, covers credits totaling approximately R$ 1.1 billion.
The plan involves converting debt into equity while shareholders evaluate the sale of the company, according to the website Pipeline . This comes four months after the group obtained a court order protecting its liquidity.
The company noted that it has since garnered broad support for the proposed plan, which already has the backing of more than 83 creditors, representing approximately 54% of the claims included in the process.
According to the company, this acquisition was driven by the corporate reorganization that consolidated the group's control in Tessai FIP Multiestratégia, a fund linked to Geribá Investimentos. Control was transferred after creditors executed shares belonging to businessman Nelson Tanure, given as collateral in financial transactions.
The crisis, however, is not limited to the financial field. Alliança is also experiencing a period of instability in its governance, marked by the departure of Ricardo Sartim, interim CEO and CFO, who left the company citing personal reasons.
Sartim had taken over the leadership a year ago, replacing Isabella Tanure, daughter of Nelson Tanure, and his resignation reinforces the turbulent scenario. The company has begun the succession process and approved the entry of João de Saint Brisson Paes de Carvalho onto the board of directors.
The executive's departure occurred amidst a series of events that worsened Alliança's situation. In February, creditors seized the company's shares and transferred them to the Tessai fund, following the financial deterioration of the operation.
The company also faced liquidity problems after Siemens Healthineers made a unilateral transfer of R$ 11.8 million from an account linked to a financing contract, a measure that affected payments to suppliers and medical staff. Simultaneously, Alliança ended negotiations to acquire Grupo Meddi, considered strategic for its expansion in the Northeast.
Throughout this crisis, the company saw its shares fall by 33.3% in 12 months, trading at R$ 3.19, with a market value of R$ 485.9 million.
Alliança's out-of-court restructuring adds to a growing list of companies in Brazil that have resorted to judicial or out-of-court restructuring to try to rebalance their finances.
The most recent case was that of Grupo Gennius Brasil, which controls the brands Habib's (Arabian food restaurant), Ragazzo (pasta chain), Mita (pre-prepared meals for delivery) and Tendall Grill (steakhouse), which filed for creditor protection with debts of R$ 312 million.
But the list is extensive. Among them are the Toky Group, which controls Tok&Stok and Mobly, and reported debts of R$ 1.1 billion, and Oncoclínicas, which has faced difficulties since the beginning of the Banco Master scandal and reported debts of R$ 5.1 billion.
The St. Marché supermarket chain, the Pão de Açúcar Group (GPA), the toy manufacturer Estrela, and Fictor, among other companies, also filed lawsuits.
