Private equity e venture capital: análise de investimento na área de saúde e farmácia

Abstract

This research seeks to analyze the quantitative and qualitative points that indicate the Best choice among three companies, from the health and pharmacy sector, for a Private Equity and Venture Capital (PE / VC) investment. The health and pharmacy market in Brazil grows above inflation and is composed of companies that already have their shares traded on the stock exchange and some others that walk the same way. Three companies were chosen as a sample of the sector to be object of study of this research. Information available on the portals of organizations such as ABVCAP, CVM, BM & FBovespa, Anbima, as well as articles from major newspapers, research carried out by large auditing companies, and other sources of knowledge were fundamental for the collection of data for this research. The indicators considered were liquidity, profitability and indebtedness. These indicators were calculated based on the financial statements provided by the companies themselves. The explanatory notes, the conditions of the health and pharmacy market in Brazil, the market share and the intervention needs of each company were also considered. The most recommended company for a PE / VC investment was Drogaria Pague Menos, since it is the company that besides presenting quantitative and qualitative indicators, is the one closest to the IPO, considered the best choice to a divestment.