SAO PAULO, June 8 (Reuters) - Brazilian medicines and drugs wholesaler Viveo late on Tuesday said it expects its EBITDA to gradually increase by 111 million reais ($22.79 million) as it captures synergies from the 17 acquisitions it has made since last year.

According to Viveo, formally known as CM Hospitalar SA, the growth in earnings before interest, taxes, depreciation and amortization will come from lower costs and a reduction of general and administrative expenses.

It expects the synergies to reach 12 million reais this year, 67 million reais in 2023 and 32 million reais in 2024.

"Usually, the administrative synergies are captured more quickly, and synergies that involve capex on plant develop a little more slowly," the firm said in a securities filing.

Viveo was valued at 5.7 billion reais in an August 2021 initial public offering (IPO). Since then, it has agreed to acquire a series of competitors including Profarma Specialty, Life and Proinfusion SA as it pushes for an expansion. ($1 = 4.8707 reais) (Reporting by Gabriel Araujo, Editing by Louise Heavens)