Peruvian healthcare services provider Auna raises $360m in NYSE IPO

Despite pricing shares slightly below the anticipated range, the company's market debut is a testament to its resilience and strategic vision, according to local analysts.

Auna has begun trading under the ticker ‘AUNA’ and issued 30 million class A shares at a price of $12 per share.

Suso Zamora, executive chairman of the board and president of Auna, said: “Auna’s listing on the NYSE is a major milestone for our company and reaffirms our mission to transform healthcare in Spanish-speaking Latin America by providing the region’s rapidly growing population with access to highly integrated healthcare”.

“Our debut in the international equity markets is also the culmination of the hard work and dedication of the doctors, nurses, managers and many other colleagues who have helped create one of the region’s largest and most modern healthcare platforms,” Zamora added.

“Through Auna’s horizontally integrated network of 31 healthcare facilities and our vertically integrated portfolio of oncological and other health plans for over 1.3 million members, we provide access to improved healthcare in the region’s under-served markets. And as we expand, we will continue prioritizing prevention and concentrating on high complexity diseases that contribute the most to healthcare expenditures, all while remaining patient-centered and committed to the highest standards of care, quality, and patient safety.”

For the full year 2023, Auna reported revenues of $1.05 billion and adjusted EBITDA of $223 million, representing increases of 58% and 90%, respectively.

Founded in Peru in 1989 and having expanded its operations to Mexico and Colombia, Auna has demonstrated a robust growth trajectory, and the company's decision to re-domicile to Luxembourg last year and its IPO underscore its ambitions on the global stage.

With a comprehensive portfolio that includes hospitals, clinics, and various health-care plans, Auna is well-positioned to leverage its extensive experience in the health sector.

The IPO's success, despite the adjusted share price, reflects market confidence in Auna's business model and growth prospects, and which also included a substantial investment from AFP Integra, a leading Peruvian pension fund manager, which committed up to $100 million in the offering.