Bain-Backed Intermedica Is Said to Plan $372 Million Share Sale

Brazilian health-care provider Notre Dame Intermedica Participacoes SA is planning an equity offering that may raise about 2 billion reais ($372 million), according to people familiar with the matter, asking not to be named because the details aren’t public yet. Shares fell on the news.

Bain-Backed Intermedica Is Said to Plan $372 Million Share Sale

Intermedica confirmed in a statement Friday it had hired advisers for a potential secondary offering, without elaborating further. Bain Capital, which is an early backer of the firm, has been reducing its holdings since Intermedica went public in 2018.

Shares of Intermedica led losses on the benchmark Ibovespa equity index Friday, falling as much as 4.5% to 67.31 reais, the lowest intraday in more than three weeks.

Intermedica has gained ground in Brazil by selling insurance and also owning hospital networks. The company recently announced the purchase of a hospital complex in Brazil’s Southern city of Londrina for 170 million reais.

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