Claudio Belocopitt, the former president of the Argentine Health Union (UAS) and owner of Swiss Medical, has decided to give up on his plan to buy Medicus. However, he retained the remaining shares needed to gain full ownership of the Sanatorium The Lomas of San Isidro, which he already partially owns.
The acquisition of Medicus was met with concerns from the Defense of Competition (CNDC), an organization under the Ministry of Commerce, who is currently evaluating the transaction for potential implications of a dominant market position. Belocopitt’s decision to retain full ownership of Medicus while parting ways with his stake in the San Isidro health center was met with speculation among industry insiders. Some suggest that it was due to support needed by the De All family, owners of the Otamendi Sanatorium, for their clinic’s development.
In addition to facing scrutiny from CNDC over his acquisition of Medicus, Belocopitt has also been criticized for receiving subsidies totaling US$13 million during the pandemic through ATP and Repro mechanisms. This funding was reportedly used to cover employee salaries, including those working in non-essential activities during quarantine periods.
With Swiss Medical being ranked as the second-largest prepaid provider in Argentina and Medicus holding eighth place, Belocopitt’s potential consolidation would represent 18.8% of the private medicine market. Belocopitt entered this sector with his purchase of Swiss Clinic in late ’90s and has since expanded his holdings to include various healthcare facilities across Argentina.
This recent acquisition represents a strategic move by Belocopitt to strengthen his presence in healthcare industry as he plans on integrating Swiss Medical services into Las Lomas facility and developing a new health center in Nordelta with an estimated investment of US$80 million.
