Hapvida has corrected its accounting from 2016-2023, increasing net equity by 503 million reais in 2024, and is renegotiating debt associated with fines and reimbursements worth 2.9 billion reais for 1.7 billion reais.
Hapvida, a Brazilian healthcare operator, announced on Wednesday its decision to amend its accounting practices from 2016 to 2023. This correction is expected to enhance its net equity by 503 million reais (approximately $89 million) in 2024, in accordance with CPC 50 accounting standards.
In addition to the accounting adjustments, Hapvida disclosed its participation in a debt renegotiation program initiated in December. The program pertains to penalties imposed by the regulatory agency ANS and reimbursements owed to Brazil’s public health system. The total liabilities involved in this settlement amount to 2.9 billion reais, which will be resolved for 1.7 billion reais.
In summary, Hapvida’s recent disclosures reveal crucial corrections to their accounting practices, resulting in a significant boost to their net equity. Furthermore, entering a debt renegotiation program will alleviate financial burdens by settling substantial liabilities at a reduced amount. These actions underscore the company’s commitment to financial transparency and stability.
Original Source: www.tradingview.com
