Hapvida has corrected its accounting methods from 2016 to 2023, increasing net equity by 503 million reais ($89 million) for 2024. The company also entered a debt renegotiation program to settle liabilities of 2.9 billion reais for 1.7 billion reais, addressing issues with fines and public health reimbursements.
Brazil’s healthcare operator Hapvida has announced the revision of its accounting methods dating from 2016 to 2023. This adjustment is expected to enhance its net equity by approximately 503 million reais (equivalent to $89 million) in the fiscal year 2024, in compliance with CPC 50 accounting standards.
In addition to the accounting adjustments, Hapvida has engaged in a debt renegotiation program initiated in December. This initiative targets fines imposed by the regulatory agency ANS and reimbursements owed to Brazil’s public health system. As part of this settlement, Hapvida aims to alleviate liabilities totaling around 2.9 billion reais, reducing the amount to 1.7 billion reais.
Hapvida’s revision of its accounting practices and the subsequent renegotiation of debt highlight its efforts to improve financial health and compliance. The changes are anticipated to strengthen its net equity and address significant liabilities, showcasing the company’s proactive financial management strategy.
Original Source: www.tradingview.com
