Hapvida Participações e Investimentos S.A. (BOVESPA:HAPV3) entered into a binding proposal to acquire HB Saúde S/A for BRL 450 million on July 7, 2021. As of week ending on August 29, 2021, offer price was increased to BRL 472 million. As of September 15, 2021, offer price was increased to BRL 650 million. In related transaction, Hapvida Participações e Investimentos S.A. agreed to acquire Cetro trauma rehabilitation centre in Bahia. The sale is subject to approval by the Grupo HB Saude shareholders holding at least 50% plus one HB Saúde share, legal, accounting and operational due diligence and regulatory bodies including Administrative Council for Economic Defense (Cade) and National Supplementary Health Agency. As of September 23, 2021, Hapvida's proposal was accepted by shareholders of HB Saúde representing approximately 59% of the total capital.