Alliança Files R$ 1.1 bn Recovery Plan

What is Alliança's extrajudicial recovery plan?

Alliança, the Brazilian diagnostic clinic group that operates CDB, Cedimagem, Axial and Delfin, filed a formal extrajudicial recovery request with a São Paulo court on Wednesday, 5 August 2026. The filing comes after months of financial restructuring that began when investment firm Geribá Investimentos took control of the company in early March 2026.

How much debt is involved and who are the creditors?

The total debt subject to restructuring stands at R$ 1.1 billion. The plan was submitted with the backing of more than 83 creditors, representing approximately 54% of eligible credits — meeting the legal quorum required for judicial approval. Of those creditors who have already signed, more than 92% chose to convert their debt into equity rather than accept cash repayments.

What are the three payment options for creditors?

• Option 1 – Equity conversion: Full conversion of the credit into Alliança shares, completely extinguishing the debt.
• Option 2 – Discounted instalments: Payment of 30% of the credit value in 11 annual instalments, with the remaining balance forgiven.
• Option 3 – Lump-sum cap: A single payment capped at R$ 15,000 per creditor.

Each creditor will have 30 calendar days from the date of judicial approval to select one of the three options.

Will patients and staff be affected?

Alliança has stressed that the extrajudicial recovery is strictly financial in nature and will not change its obligations to patients, employees, health insurers, operators or health cooperatives. The company also highlighted special terms for strategic partners and property landlords who choose to maintain their commercial relationships with the group.

How did Geribá Investimentos take control?

The shares previously belonged to businessman Nelson Tanure but were executed as collateral by creditors who had extended loans to him through Ligga Telecom. Geribá acquired control in early March 2026, after which Alliança sought a precautionary injunction protecting it from debt enforcement — a step that typically precedes an extrajudicial recovery filing.