Rede D’Or São Luiz, one of the largest medical groups in the Brazil, currently occupies 40 thousand square meters of office space catering to classes A+, A, and B, according to data from Market Analytics.

In a significant move, Rede D'Or was in talks last year to acquire Sul América's health insurance division—a strategic move that received the green light from the National Supplementary Health Agency (ANS) in December 2022.

Market Analytics data has also unveiled that the D'Or Group has recently secured a lease for 8,604 square meters at Jorge Salomão property, a coveted class A property situated in the upscale Jardins region, in São Paulo. The company is actively investing in remodeling these floors at this moment.

Sources close to the situation suggest that this new venture will involve the seamless integration of Rede D'Or's teams with the recently acquired health division of Sul América. Additionally, the D'Or Group is poised to move out from 4,800 square meters within Block III of the São Luiz building, a class B asset on Av. Juscelino Kubitschek, a São Paulo´s CBD region.

As of the time of closing this report, Rede D’Or had not provided a statement regarding the change.

According to ANS data for the second quarter of 2023, the companies incorporated by Rede D’Or, including the health insurance, dental, health plans, and health insurer divisions, collectively reported a net profit of R$ 209.5 million (US$ 42.55 million), with the insurer being the most profitable at R$ 106 million (US$ 21.53 million).

In a released report, Rede D’Or's net revenue for the second quarter of this year was R$ 6.4 billion (US$ 1.3 bilion), representing a growth of 10.6% compared to the same period the previous year. Net profit amounted to R$ 435 million (US$ 88.34 million), marking a 21.5% increase on an annual basis.

In addition to the new venture, Rede D’Or also holds other assets in the Vila Olímpia, JK, Jardins, and downtown Rio de Janeiro regions.

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*Real to dollar exchange rate as of September 21, 2023, at 11 a.m.