Banco Bradesco's Indirectly Controlled Investment Firm Signs an Investment Agreement with Rede D'Or

Banco Bradesco S.A. (NYSE:BBD) is one of the 9 Most Profitable Penny Stocks to Buy Right Now. On September 1, Banco Bradesco S.A.’s (NYSE:BBD) indirectly controlled investment firm, Atlântica Hospitais e Participações S.A., signed an Investment Agreement with Rede D’Or São Luiz S.A. Group.

Atlântica’s agreement with Rede D’Or involves the inclusion of Hospital Glória D’Or into the Atlântica D’Or network. This inclusion will maintain a partnership structure with 50.01% stake held by Rede D’Or and 49.99% by Atlântica.

Banco Bradesco’s investment firm’s expansion aligns with its strategy to invest in the healthcare value chain. The goal is to collaborate with reputed and established hospital operators. The transaction between Atlântica Hospitais and Rede D’Or is subject to regulatory approvals and other conditions of the agreement.

Since the announcement of the agreement, BBD shares have soared by almost 9.06% as of September 16.

Banco Bradesco S.A. (NYSE:BBD), along with its subsidiaries, offers various banking products and services to individuals, corporates, and businesses in Brazil and globally.

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Disclosure: None. This article is originally published at Insider Monkey.