Edson de Godoy Bueno: The Business Side Of Medicine

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What makes the medical world go around at the end of the day involves some form of business. The doctors have to be paid; the medicines have to be paid. Medical companies are basically run for profit.

Edson de Godoy Bueno wanted to become a doctor when he was 14 years old. He studied for a medical degree at Universidad Federal do Rio de Janeiro while at the same time working at a struggling clinic. Bueno graduated in 1971 but before graduating he had already bought the clinic; which showed his interest and skill of the business side of medicine. He specialized in general surgery at the Hospital de Santa Casa in Rio de Janeiro.

After other acquisitions he co-founded Amil Participacoes in 1975. He has also held executive positions at Hospital de Clinicas de Niteroi Ltda. In the past five years Amil bought more than 15 companies, winding up as the largest health care company in Brazil.

Amil had done an IPO in 2007; Beuno has been the President since March 2007 and serves as its CEO and Chairman. Huge U.S. health insurer United Health Group wanted to expand to Latin America. As a result it shelled out $4.9 billion for a 90 percent stake in Amil at the end of 2012.

To accomplish this United Health Group bought 30 percent of Amil from public shareholders and 60 percent from the Buenos. In the deal the Buenos (this includes his wife who he has divorced) would retain 10 percent of Amil and Bueno would remain as CEO of Amil.

Bueno became the first foreigner to join the board of United Health and at 0.8 percent, one of the largest individual shareholders of the group. Other business interest of the Buenos includes holdings in Dasa, the largest chain of laboratories in Latin America. They also own shares in Totalcare, a private holding company that manages direct investments in hospitals in Rio de Janeiro and Sao Paulo.

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