BRAZIL · HEALTH CARE
Key Facts
- The company Rede D’Or runs private hospitals in Brazil and owns the health insurer SulAmérica.
- The result Third-quarter consolidated net profit was R$1.45 billion (about US$257 million), down 0.1%.
- The revenue Net revenue rose 5.6% to R$15.41 billion (about US$2.7 billion).
- The earnings Adjusted EBITDA, operating earnings, rose 11.6% to R$3.61 billion (about US$640 million).
- The debt Leverage, net debt to EBITDA, fell to 1.65 times, 0.06 lower than in the prior quarter.
- Power Index Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 74.2 points (November 2026 edition).
Rede D’Or, a Brazilian private hospital group that also owns the health insurer SulAmérica, said its third-quarter 2026 consolidated net profit was R$1.45 billion (about US$257 million), flat against a year earlier. Net revenue rose 5.6% to R$15.41 billion (about US$2.7 billion, at about R$5.64 per US$ on 13 November).
Adjusted EBITDA, operating earnings before interest, tax, depreciation and amortisation as the company adjusts them, rose 11.6% to R$3.61 billion (about US$640 million). Unadjusted EBITDA rose 6.4% to R$3.07 billion (about US$544 million).
For US readers, the quarter shows steady demand for private health care in Brazil, where people who can pay often choose private hospitals and insurance over the public system. Cancer care revenue grew 18.2%, faster than the hospital division as a whole; our Rede D’Or company profile holds the company’s longer record.
What Happened
Gross revenue was R$16.57 billion (about US$2.9 billion), up 6.2%, and hospitals and other businesses brought in R$10.34 billion (about US$1.8 billion) of it, up 10.1%. Operating costs in that division rose 6.7% to R$6.59 billion (about US$1.17 billion).
The gross margin, as the company reports it, rose 2.3 percentage points to 28.0%. Staff costs were R$2.34 billion (about US$415 million), up 5.9%, and materials and medicines were R$1.93 billion (about US$342 million), up 10.4%.
Hospitals and Cancer Care
The average ticket, meaning revenue per patient, rose 10.5% over the 12 months to September, the third quarter in a row in which the pace picked up. Cancer care revenue grew 18.2%.
Cancer care now makes up 12.1% of the hospital division’s gross revenue. The group performed 163,000 surgeries, up 4.0%.
The SulAmérica Insurance Arm
The claims ratio of SulAmérica, which is the share of premiums paid out in claims, improved 2.4 points to 77.7%. The insurer had 6.2 million beneficiaries, meaning people covered by its plans, up 8.9%.
Operating cash flow for the whole group was R$2.8 billion (about US$496 million), up 19.2%. Leverage fell to 1.65 times net debt to EBITDA.
What It Means for You
If you hold Brazilian shares through a US fund, the quarter shows operating earnings growing while profit stayed flat. Expats who buy private health plans in Brazil are customers of insurers such as SulAmérica, whose claims ratio improved.
Medical travelers should note that cancer care is growing faster than the rest of the hospital business. It grew 18.2%, against 10.1% for the hospital division as a whole.
What Is Not Known
It is not known what held net profit flat while adjusted EBITDA grew 11.6%. Interest costs and taxes sit between operating earnings and profit.
How the group will keep growing is open, because demand for private care depends on household incomes and employer health plans. The next quarter will show whether margins hold.
More: Brazil news in English, every day from The Rio Times.
Frequently Asked Questions
What Was Rede D’Or’s Profit in the Third Quarter of 2026?
Rede D’Or reported consolidated net profit of R$1.45 billion (about US$257 million), down 0.1% from a year earlier. Net revenue rose 5.6% to R$15.41 billion (about US$2.7 billion).
What Is Rede D’Or?
Rede D’Or is a Brazilian private hospital group. It also owns the health insurer SulAmérica, which has 6.2 million beneficiaries.
How Much Debt Does Rede D’Or Have?
Leverage fell to 1.65 times net debt to EBITDA, 0.06 lower than in the previous quarter. Operating cash flow was R$2.8 billion (about US$496 million).
Sources: Rede D’Or São Luiz, investor relations, results for the third quarter of 2026 (company statement), November 2026; exchange rate of about R$5.64 per US$, 13 November 2026.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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