Companies want to revolutionize access and quality of services; today, Conexa already takes care of around 50% of the total lives of health insurance companies in Brazil
Sao Paulo, October 2023 – Conexa and Zenklub join forces and consolidate themselves in the market as the largest digital health company in Latin America. The agreement was closed this Tuesday, the 17th, after collecting all the signatures from the legal representatives of both corporations necessary for the registration of the new contract. With this, the healthtechs, which although already start with a robust cash position that exceeds R$200 million, now also have the prospect of reaching the breakeven in early 2024. The initiative puts them in a privileged position with reference funds and startup investors such as Goldman Sachs; General Atlantic; Igah, Ventures; and Kamaroopin (Patria) on the board.
In this business combination, Zenklub will receive shares in Conexa, a company that already covers approximately 50% of the total eligible lives in the country with operators. The next step, now, is to scale up expansion in the corporate market.
Conexa is widely recognized for its innovative telemedicine platform, which connects patients with doctors, psychologists and nutritionists. It carries out more than 400,000 consultations per month, 180,000 of which are focused on mental health. The company has stood out for promoting access to healthcare in a comprehensive and integrated manner, actively collaborating with health plans. Its platform has democratized care, allowing more than 20 million people to receive high-quality medical care, regardless of their geographic location.
Zenklub, in turn, has established its position in the corporate emotional health market over the last seven years, pioneering the deconstruction of stigmas related to mental health in the corporate environment and expanding access to emotional health care for more than 500 companies such as Volkswagen, Azul and RaiaDrogasil.
The transaction will result in the formation of the largest digital health company in Latin America with a powerful synergy in the integration of physical and mental health care, which is one of the points that mark the synergy between the companies. The patient journey takes place through a data-driven technology platform.
According to the ANS, healthcare providers closed 2022 with R$12 billion in operating losses compared to gross revenue of R$265 billion and an average loss ratio of R$851.3 billion. The merger between the companies offers the population a new, more inclusive and efficient healthcare model with the potential to become a relevant pillar in the sustainability of the Brazilian healthcare system.
“We are excited to bring Zenklub to this journey,” said Guilherme Weigert, CEO of Conexa. “We will bring to a healthcare market in crisis, with inflated healthcare costs and a lack of patient journey coordination, a unique player that provides access to a network of specialists and personalized quality programs for millions of Brazilians in one place,” he added.
Rui Brandão, CEO of Zenklub, also shares this vision. “This move will allow us to offer more comprehensive and accessible solutions for people’s well-being,” he said. “Our mission is to improve the health of millions of Brazilians, recognizing the importance of an integrated healthcare approach to address today’s challenges; joining forces with Conexa accelerates our progress in this mission,” he commented.
With an established presence across Latin America, the combined company will have the ability to offer high-quality digital health services to a significantly larger population. In 2021, Conexa had already entered the mental health market with the incorporation of Psicologia Viva among its services.
