Good morning, everyone, and welcome to our webcast of the first quarter of 2026. I'm José Roberto Pacheco, the IR officer of Brads aúde. I have with me Carlos Marinelli, the CEO of Brads aúde. Marinelli?
Thank you, Pacheco. Good morning, everyone. We are here today to talk about the first quarter of 2026, whereas in respect and consideration to all the shareholders that have followed us through Odontoprev in the past 20 years, we'll present the results of the first quarter of 2026 of Odontoprev and provide managerial and voluntary information from Brads aúde. Today is a very important day for Brads aúde. Today is the day that marks the launch of our SAUD3 ticker. We were at B3 this morning.
We rang the bell. Began this new story of a company that's connected to the healthcare ecosystem, bringing in novelties, connecting leading companies, connecting companies that have their own purpose, but together do decide to deliver added value to Brazilian healthcare. We are very proud of that. Obviously, there was a lot of work. So far, many teams have worked relentlessly to deliver all the regulatory, operational, and business needs for us to be here today to celebrate and provide the information that you will see. With no further ado, I'll leave you with Pacheco. He will give you the information for the first quarter of 2026. I'll be back during the Q&A session.
Thank you, Marinelli. We have a few slides to narrate the company's 20-year path since its IPO back in 2006. Two decades of expressive value generation. As we can see on this first slide, we went from revenues back then in 2006 under BRL 200 million, achieving our current rate in last 12 months of BRL 2.4 billion. The company did have some different cycles in terms of its growth profile.
In the first cycle, you can see intense inorganic growth, many acquisitions, and overall, the strategic partnership in 2009 with the Bradesco organization. After that, year after year, the company has grown its revenues in all years and specific one-off projects in the more recent periods. It's worth noting that in the capitals market, our performance is interesting, exceeding the average growth of IBX of 9% per year. In the company, we had an average return in the period of 16% per year.
The original market value of the company of approximately BRL 600 million in 2006 has achieved before February 27, the level of BRL 7 billion. Moving on to our specific figures for Odontoprev in the first quarter of 2026. We have net additions in 12 months of half a million members, out of which I'd like to highlight the SME customers that represent a very important market for the company, and through the bank channel and Bradesco brand, have had the privilege of presenting consistent and robust figures of approximately 200,000 new members per year. That was the metric last year. That remains in our first quarter of 2026. Moving on to revenues and net income. As we've seen in the previous slide, our revenues have grown every year.
Now we add the level of BRL 2.4 billion in the first quarter, presenting growth of approximately 5%. I would particularly like to highlight the net margin of the company, most expressive in the world in supplementary health care of 20%. That level is already represented and has been showing in consecutive years. This is our last slide that shows the overall strategy that the company has been pursuing in the past year, a pioneer spirit and opening up the frontier of dental plans in Brazil for a new customer profile, SMEs and individual customers, an addressable market that it's equal or greater than the corporate market.
In 2014, we can see that after that, the contribution has grown 14% per year, meaning that BRL 1.2 million in contribution margin, a substantial portion has been obtained through the SME and individual customers. This customer profile has a higher ticket, lower claims ratio, and is very difficult to be replicated by the competition. Now moving on to another session, the Bradesco Saúde session. Here we have ANS data. Everyone has this in their models and their files and statistics. Here we can see the evolution year- after- year of the company's net adds and a clear recovery as of 2023. We ended last year, as you can see, at 141,000 new members. In this first quarter, the company has over 50,000 new members to its customer base getting close to 4 million.
It's worth noting the growth of the corporate plans. 30,000 new members in this first quarter, which is significant growth. Moving on to revenue, particularly the issued premiums. You can see double-digit growth that the company has been presenting since 2021, particularly in this first quarter, 8.4% growth in the premiums obtained. Our next metric is net income. The company has been presenting a very positive path growing of approximately BRL 1 billion of net income in 2023 and achieved BRL 3.3 billion. In this first quarter, and it's worth noting that we have a 33% growth year-over-year. Moving on to another session, Atlântica Hospitais e Participações. This is a factor that I'd like to highlight for those who have been following us and will follow moving on. It's part of the Bradesco Saúde thesis.
How was the performance in this past quarter? We went from 3,600 beds at the end of last year to 3,900 this quarter. BRL 4.8 billion already committed and approximately over half of it, BRL 2.8 billion, have already been disbursed so far. The company has many different partners, excellent partners in different regions in Brazil with a highlight to the Southeast region. The last session of the initial conversation is regarding the non-audited managerial voluntary data, as Marinelli has mentioned, regarding Brads aúde. Starting with the revenues of the group of companies. Revenues of BRL 13.4 billion, very much resulting from net additions, not only in healthcare, but also dental. In total, 193,000 new members in this quarter, taking the total amount of members to over 13 million Brazilians, particularly 13.4 million new members.
Total of members. The ROAE was very significant and increased compared to the last period, approximately 25% in the last 12 months. Claims ratio. Here we can see the recent history in healthcare and dental of 79% in healthcare and 32.7% in dental in the first quarter. Moving on to the financial assets and financial results of the company. Bradsaúde has no debt. It has a very robust capital framework. The financial assets were approximately BRL 29 billion in the first quarter, leading to financial results of BRL 875 million in the first quarter. Lastly, to end the initial minutes of our conversation, we have the net income of BRL 1.3 billion and the breakdown per business segment.
As you can see and mentioned before, Atlântica Hospitais is already part of the profile of generating value for the net income of the company. We do have the highlight of the health insurance plan from Bradesco Saúde. Those are our initial remarks. I'd like to invite everyone to be a part of our Q&A session, which will take place shortly. Thank you very much, everyone.[Non-English content]
Now we'll begin our Q&A session. We also have with us Vinicius Cruz, the CFO of Bradsaúde. Our first question is from Eduardo Resende from UBS. Go ahead, Eduardo. [Non-English content] I'm sorry, Eduardo, we can't hear you. Could you repeat your question? [Non-English content] I think we're having a technical issue. Just give us a moment, please. Eduardo, could you try again, please? One moment, please. Eduardo, could you please repeat your question? Thank you. I'm sorry, we still can't hear you. Can you send it by email, please? Now we hear you. Perfect.
Good morning, Marinelli, Vinicius, and Pacheco. First of all, I'd like to wish you all the best on this new journey with Brad saúde . I have two questions on my side. First of all, I'd like to explore the drivers of the improvement in the claims ratio that we've seen in the fourth quarter to see if we had any one-off effects. After that, could you share with us what you've seen in April and May regarding the frequency and what you expect for the year? That would help a lot. The second question is, I'd like to know about the priorities and capital allocation at Brad saúde , if you can share, especially regarding the dynamics of dividend payments and interest on equity. Thank you.
Thank you, Eduardo. I'll talk about the claims ratio, and then Vinicius can talk about capital allocation. This quarter is favored by the seasonality. In this quarter, we have warnings, so to speak, of a weaker base because it's the beginning of the year, January vacation, carnival holiday mid-February. Some families extend their vacation period to then start caring for themselves, so the families postpone their healthcare. In addition to the displacement, so to speak, of the claims being filed at the end of December.
At the end of December, we have the end-of-year holidays, therefore, we won't see those claims yet, only in the first quarter. You'll have the whole period to process that and to get that filed. There's a claims ratio aspect that is a result of the seasonality. January and February, vacation and carnival, as well as how long it takes for us to get the claims filed. Therefore, there's a lower frequency. There's less seasonality, lower claims ratios.
I've mentioned this during other meetings that in 2025, meaning last year, had a very different profile when we think of the first and second half years. First half year, we see a higher frequency. We see the average prices on an upwards trend per visit, and we see a detachment of some of the specialties that have a higher frequency than the general average. In that case, I mean the therapies. When we look at 2026, we have to be very cautious regarding the claims ratio. At Bradesco Saúde, we're starting to see these points of attention. We're starting to see the elements that we can work better with our service providers, see what can be better negotiated, what can be done to have a more sustainable cost.
In terms of the claims ratio, it is a point of caution for us in 2026. Regarding the capital dynamics and dividend distribution of the company, we'd like to reinforce the message of the original dividend distribution for Odontoprev and Brads aúde. That we need to have clarity in the profitability and discipline and capital allocation. As we have projects to assess and support the company's growth and develop new equipment, specifically hospital equipment, as they're the ones that require more capital in the short term, we have very strict discipline in assessing the profitability and growing and expanding those projects. Soon we'll provide more information about the dividend payment proposals for our shareholders.
Thank you, Marinelli. Thank you, Vinicius. Our next question is from Flavio from Bank of America. Go ahead, Flavio.
Hi, everyone. Good morning. Thank you for taking my question. We have two on our side. The first one is that we'd like to understand the competitive environment better for health insurance. We've seen that this niche has been tighter and probably some players are looking for more market share. How do you see that scenario? How are you reacting, and not only in growing your customer base, but also in transferring the ticket prices and also SMEs that you've been very vocal about that.
My second question is about the Bradesco Saúde numbers. You've shown profit growth of almost 34% year-over-year. When we do that math regarding the premiums and remove the expenses from the claims ratio based on the information you provided, the operational results growth is lower. How can we reach robust increase in profit, and what influences the significant improvement? Thank you.
I can start. I'll add. We can see robust overall results with an improvement in the claims ratio that has supported the growth of the bottom line of Bradesco Saúde when we look at it alone. We've also counted on significant contribution of the company's financial results, strong cash position that has benefited from a higher Selic interest rate in the period, especially when we compare year-over-year. We have a higher asset base and significant or a slight increase in the Selic rate that affected the net income than just the operational aspects, as you mentioned.
To add to Vinicius' point, the figures that Pacheco has shown us, they show our growth in number of members, the recent growth. That recent growth is a result of our strategy, be it in the point of view of retaining the members, but also launching new products and also higher competitiveness in the competition that we have in the market that's being pursued by other operators. It's important to mention, though, that one of our pillars is the strength of our products and differentiation of our products.
Not only the current products having that characteristic, but also we've been designing new products as we have many launches last year, like Efetivo Plus, that was launched in the city of Curitiba, the city of Porto Alegre, and many different places, many different Brazilian capitals, that has positioned us with unique products in some of these markets. Another very important characteristic that we should highlight is the fact that a characteristic of our company has a high renewal of these contracts, of these corporate clients. Our strategy is often organized in a way where we enter a given market combining commercial conditions and unique products.
The entrance in that specific market or in order to capture that market share, there's an idea of continuity moving forward. We do not want to just be a solution for them to switch, but we also want to keep that client for a long period of time, given their satisfaction with the product and the unique aspects in renewal. Obviously, in terms of claim ratio, that's organized in the way where they can count on us on the annual renewals that they have. The growth that we've been seeing is not a strategy for that quarter or just that year, it's for the business. It's about sustainability. We want to bring in more clients that are satisfied, that continue to renew with us, and do appreciate the differential that our products offer.
Thank you, Marinelli. Thank you, Vinicius.
Next question is from Leandro Bastos from Citibank. Leandro, go ahead .
Hi, everyone. Good morning. Thank you for taking my question. We have two questions on our side as well. The first one, going back to the claims ratio in healthcare. You mentioned the effects of seasonality. I'd like to know if there were any changes that would explain that in the sequential vision. Also, in that message of caution for the year, I think it's mainly inspired by a higher frequency than necessarily a concern of a more competitive market or price.
Is that understanding correct? I just wanna understand the claims ratio vectors better for this year. That's the first point. The second point, regarding Atlântica, you have a very interesting calendar for your projects. I'd like to understand the ambition of new things, if you'd like to mention the decision-making process, different partners in these hospitals. How does each project go into each box? It'd be interesting to understand the growth in that front. Thank you.
Thank you, Leandro, for your question. Well, about the claims ratio specifically, there was no specific movements in provisions that would have implied in the dynamics of our claims ratio for the first quarter of this year. It's important to further address that because we have a group of provisions that are very robust, especially in the events that occurred and were not expected.
They have the date that it was filed and the date of the claims. We have over BRL 7 million in provision in that line, and what we've observed across time is that we follow the rate of payment of the claims. Approximately 64% of those payments are regarding claims that took place in the actual month or the month before the claim that we're paying in that movement. In that speed in paying our claims, we have a lower need to create provisions because of that tale of the claims that are coming. Where did that speed come from?
We have many digital initiatives, supported by Orizon in the speed of processing and discussing the accounts, processing the accounts and the denials, and discussing the amounts with the credited network, as well as the investment in technology that Orizon has developed for us across time makes us have analytics that are fast and discussing that with the network to determine the right amounts and the amounts that are due regarding the bills that we get through the claims department. Another important movement is the speed in reimbursements. We had higher pressure of reimbursements in the past, and the average flow is higher than the filing by the network. When we normalize reimbursements through the percentage of reimbursement that's more reasonable, we're also an element that favors the speed of paying the claims.
All of these movements lead to a lower constitution when we compare that to the IBNR of the past. The claims ratio affects the IBNR, but IBNR is more stable given on the medical accounts, be it through the network or our members through a reimbursement. I think there was a question about the claims ratio and the competitive environment. I always like to highlight that the claims ratio is a relationship between the premium and the claim. In a more competitive environment, you have less conditions of transferring that price. It's a more intense fight, so to speak, for prices in the market.
In an environment when the volume of claims and frequency of claims is higher, we see that in the market overall, we see behavior that is meant to get you ready for the future variation of the average hospital costs. There's a moment where you have to prepare for that future claim. Exactly because of the point that I mentioned before about caution, we not only have to work in the claims overall, but also get ready in terms of price for the contracts that we're renewing, considering medical inflation pressure, we know that's happening as one of the topics that you mentioned in terms of frequency.
That's also related with adopting new drugs, new items on the official list, and drugs that are coming in more that we didn't have as much before. That composition is a bit more complex, and we analyze that closely and identify when these variations affect the behavior of future results. The forecast that we have enables us to be more aggressive in commercial terms, but also understanding how far we can go because the claims ratio is the ratio between the claim and the use.
When we talk about caution regarding claims, we see that the market also has that concern, and we already see a dispute in the market with the competition, maybe not working at the promotional level and prices that we've seen in the past. We continue according to the response that we see in the market. We want to maintain our contracts and sell new ones, but we do have to understand the claims, that we see an increase in frequency and average price per visit, so we're ready for that.
Another topic regarding what Vinicius mentioned is about how we see the claims volume moving. We don't simply sit there and talk about the caution and pay as we always do. We have intelligence in-house to identify any variations. Some of them are more acute, some of them are one-off. We need to look at the claims ratio and then try to understand what's going on over here, for instance. What's going on in this specialty, what's going on with this provider.
In that case, we may have a variation according to what Vinicius mentioned about the speed of payment, because we do have to have more scrutiny on those accounts. It's continuous. Sometimes it moves faster, sometimes slower, but that's all regulated according to the provisions. As Vinicius well mentioned, in the first quarter, we see the maintenance of the provisions regarding the speed that we're seeing in paying the accounts.
And I think he talked about Atlântica, new projects, governance, and the partnerships that we have in that topic.
Correct. Atlântica has a number of projects that are currently or constantly being assessed. We map out the need for quality beds and to be a part of the Atlântica portfolio. As I mentioned in the first question, also is looking at the capital, the need for new beds and quality beds, and about also analyzing what we already have available in those regions. It's observing the expected growth and day rates for the upcoming years that asset help us to assess the new places where we will take our projects.
On the other side, there's the projects that are submitted by our partners for evaluation. Working together in that strategy and connecting to those avenues of growth and needs for bed, and we need to analyze that. The need for Efetivo beds or differentiated beds to justify a given movement or investment in new beds, we consider that jointly, and then we make a decision based on that. At Brads aúde and Atlântica, we have the ability of assessing those demands and opportunities for investment, so we can deliberate and determine how we'll move forward with those projects.
Perfect. Next question is from Maurício Cepeda from Morgan Stanley. Maurício, go ahead, please.
Good morning. Good morning, Marinelli, Pacheco. Vinicius, thank you for taking my question. This is thinking out of the box a little. We're going through an election year when we know that the industry is affected by the regulatory agency. We see some agendas coming back this year. Could you give us an update on the sectorial discussions, especially the restrictions that were proposed even more regarding the insurance plans, lateral review, and the collective plans review?
The economics for the industry has improved, and you can argument against the sectorial sustainability. Could you mention that? About capital allocation, I understand what you mentioned about Atlântica. Given the possibility of a follow-on, do you see any other types of businesses integrating the ecosystem? Do you have a need for another type of business, such as oncology, for instance, in a hospital? Thank you.
Thank you, Cepeda, for your question. I'll start off about the regulatory aspect that you mentioned. There's a situation, well, that we do have a regulator, and we have the regulatory framework with the 1,656, and that improves the agency works in that sense and even interacts with the operators about the regulatory agenda that was established, and we were intensely part of that. We bring our positions in and through FenaSaúde, which is the association that we're part of.
We see that the regulator is very concerned about the industry, concerned about the sustainability of the industry. They have a dynamic of understanding what's going on in the existing pressure, especially based on sustainability, such as new drugs, new treatments, new list of procedures, the increase of certain treatments in the market, and tries to balance out that equation. We always hear from the agency that they're trying to find a balance, and we work together to show our needs based on the point of view of making or keeping this industry sustainable. As its characteristic, there's always something new and new technologies coming in. What I would say at this time, at that still active, the conversations are still being made in an open manner, and we continue to contribute explaining our opinions about the priority topics. That's a live dynamic. It happens all the time.
Based on the point of view of new businesses, I'll start, and then Vinicius can add the idea of Bradesco, which is an idea of an ecosystem. We can be well-represented by the companies that are here. You asked specifically about oncology, and we do have Croma Oncologia that's together with Fleury and BP Group. Actually, we are active in that market. We are understanding the dynamics and understanding all the possibilities. Vinicius just mentioned the governance about the new investments. I would say that in order for an ecosystem to be live, to be dynamic, to create synergy and new opportunities for growth, it also has to be willing to understand how it can grow when it acquires new competencies from new businesses, and that's a constant dynamic.
I would just like to reiterate the message that we do believe in an open environment and an environment that can coexist with the dynamic of the operator and the accredited network, our partners that have brought us this far in the care to be able to comply with the demand of our members. We're open to many different operations, be it through M&A or expansions. The example of oncology is a classic example.
When we see the results of our clinics that are still in the early phase, and based on these results, we can determine which rate or rhythm that we'll follow in that ecosystem, and many others that can become opportunities for investment that will be profitable because we will not give up on that considering all the elements that are part of the ecosystem, so we can support growth and investing in this industry. Vinicius is highlighting very important points. Just to summarize, we have an open model that pursues excellence and focusing on quality overall a non-verticalized model.
Next question is from Samuel Alves from BTG. Samuel, go ahead. Thank you.
Good morning, Marinelli, Vinicius, and Pacheco. Good morning to you all. We have two questions on our side. The first one is a follow-up regarding technical provisions. Vinicius mentioned that given the change in the rate of payments, there was a smaller need to add to the IBNR. Would it be correct to say that the balance of IBNR in this quarter is stable? Based on that, I'd also like to know if there's room for a reversal of provisions for the rest of the year. That's the first question. Second question, also a follow-up about what Marinelli mentioned in terms of the claims ratio bonus. You were very emphatic on that topic. I'd like to understand that.
Given the fact that there was also a seasonal bonus in Q1 2025, there was a drop in that, and you mentioned profit increase, were there any changes in the seasonal pattern year-over-year that you would like to highlight then they can maintain that discourse of caution for the rest of the year? Thank you.
I'll talk about the technical provisions. Samuel, we had an increase in provisions. There was no reversal in provisions in this period. Discrete growth considering the size of the provision, I don't see any room for a reduction in the short term given all the tests and evaluations that we've had regarding the level of provisions that we have. It complies with the number of filings that we get.
When we compare that to other years, and that was what came from the previous question, we don't have the volume of constitution given the speed of payment vis-a-vis the filings that we get through Bradesco Saúde. Regarding the claims ratio, I'd just like to mention that we're based on a higher number of premiums than last year, and all the initiatives that were implemented to improve claims ratio and reduce waste in the system have already also improved our base and therefore positively contributed to lower the claims in the first quarter. The base of claims is greater, but all the initiatives that were considered in the past years collaborated with that.
Even though we had the same 61 business dates year-over-year, we clearly realized that the year started later in supplementary healthcare in terms of demand frequency and average cost of the events in the accredited network. Our caution is mainly related to what we believe is going to come in terms of the filings of claims than trend. In the beginning, we mentioned a stable environment of claims, that's what we actually believe in. We don't believe that the reality of the first quarter will continue in the upcoming quarters.
About your question, what the result is comprised of, that's very clear. We have a slight positive variation in provisions even, that addresses your question. About the bonus of the claims ratio, you have to see that one thing is looking as the aggregate amount. We can look that at that on a daily basis and how it behaves based it through the claims filed or what we call authorizations, the authorization profile.
As Vinicius well mentioned, it may have started later, but it started fast, and we're seeing that already. I can't just look at the quarter and say, "Okay, this is happening because on average, this is what's going on." Actually, we need to see the behavior of the claims and its evolution. That's why I mentioned the caution. We've seen that in 2025, I always like to say this because when you look at it as a year and you look at the average and you have a snapshot, If you look at the first half and then the second half, it's a different snapshot.
If you compartmentalize, you'll see different behaviors and claims, and that's what we have to do. We can't simply look at the average and consider that and wait for the next quarter. We elaborate many different elements and KPIs that adjust and determines how we look forward in the claims ratio and price and claims.
Thank you, Marinelli and Vinicius. Moving on to the next question is from Caio Moscardini from Santander. Caio? Go ahead, Caio. We can't hear you, though. Sorry, we still can't hear you. You can send your question by email. Hi. Okay, now it's working. Thank you. Yes, we can hear you. We can hear you, Caio. Go ahead. Yes. Go ahead.
My question is about the strategy for the health insurer. Think of the scale of growing your portfolio and margin. Are you thinking of growing members versus increasing margin and improving the claims? How should we think about that for the upcoming years? Thank you.
Thank you for your question, Caio. Your question's very interesting because it connects with what we answered before. First of all, in our line of business, there's cycles of expansion, contraction, or reduction, sometimes lower claims ratio. The beauty of this business is exactly how we design it for the future. As we've done recently, we turned lower claims ratio into higher competitiveness at some moments, and that enabled us to transfer that into an increase in the number of members. Logically, we look at these new products that we've launched in the market and the dispute in the market when there's a renewal, for instance, and there's an RFQ, and we make our decisions.
We have to consider future medical inflation. We have contracts that, as Vinicius mentioned, that have an industrial value. We have an industrial gain of our own operations. Also looking at the future, we have products that are desired by the markets. They're premium products that when our customers buy and have access to Bradesco Saúde, they can feel the difference, even as an upgrade of what they, to what they previously had. We not only want to assess these markets with new products and competitiveness, but also grow in terms of members, but also have very high retention. That's one of our characteristics in the market of corporate policies. Designing that overall, it's not for one or two quarters.
It's about years, and we forecast those portfolios for the future and gains for the future and make our decisions based on the customer lifetime values. I'm not just looking at the next cycle. I'm looking at how we can service this client well, how they can recognize what we're doing for them, learn, know about our product, and appreciate that across time. The cycles change. We have different markets and different cycles. There's the whole market with some sort of cycles, but what we have in terms of discipline, in terms of price to generating the industrial value, we have to have the discipline to look at medical inflation and forecast the costs adequately and offering good services so we can have long-term trust from our clients that would actually generates value at the end of the day. Thank you, Caio, for your question.
Thank you, Marinelli. Our next question is from Gustavo Miele from Goldman Sachs. Gustavo, go ahead, please.
Good morning, Marinelli, Vinicius, and Pacheco. Thank you for the presentation. I have two on my side. The first one, considering that question about growth, I'd like you to list the priorities, the geographic priorities to grow the health insurance plan. There's the metropolitan region of São Paulo, where you already have a strong operation and a greater accredited network, but a more competitive market. I'd like to know if that would still be the marginal growth of the company or your plan for that, or would other regions make sense now? If the case, which ones would they be? Just to consider your market share in other places. That's the first question.
The second one that's more direct. You mentioned Atlântica, you have an investment plan of BRL 4.8 billion, of which BRL 2.8 billion were already invested. That BRL 2 billion difference in CapEx that you still have to invest, can you put that into a schedule or a timeline? How much this year? How much 2027? How much in 2028? That would help us in modeling things here. Thank you.
Thank you, Gustavo. I'll start, and then Vinicius can add about Atlântica. In terms of geographic priorities, obviously there's a concentration that continues based on the economy of the country and the populations that have access to health insurance. Southeast, specifically São Paulo and Rio de Janeiro, do have more volume. They're more intense. We're also big in states like Bahia or the Federal District.
We also look at opportunities that come up to develop new products and be able to launch products that are more affordable in given regions or in a group of access that we would design. Last year we launched the Goiás product. More recently, we launched the Efetivo product for Curitiba, and also cities in the state of São Paulo and Efetivo Plus in Porto Alegre, and then in Brasília, where we're the leaders of health insurance products in the Federal District. We design so that we can position the company in a better way in important markets, that we can't lose our importance or leadership, and also explore new markets if there's a possibility. More recently we've connected that to the strategies of the ecosystem to invest in the hospitals project. We have hospitals in Macaé, Guarulhos, Alphaville.
We recently announced a new hospital in Sorocaba. We'll soon have another hospital in the interior of the state of São Paulo. The market composition protects the markets where we are already important and adds greater market share in the markets where we believe there's a possibility of growing premium products, which are the characteristics of Bradesco Saúde. The South region was considered in that. There are other products to be launched soon, considering Efetivo Plus plan. In addition to the strategy of Atlântica Hospitais e Participações to enter markets with premium equipment that will offer this population a feeling of how a unique and premium equipment is also connected to a premium product.
Gustavo, about the investment in Atlântica, BRL 4.8 billion in investment is connected to the group of devices, so 28 hospitals and over 2,000 beds. 2/3 of that amount should be consumed in the next two years, there will still be some left over to make the forecasted expansion feasible. Investment in equipment, that balance should last approximately three years considering the equipment that we want to invest in. In the ramp-up speed and the efficiency of the hospital equipment, we also see the capability of supporting the specific expansion of these units based on the results of them. That will be very important for us so that we don't just require new investments, but instead maximizing the investment in the equipment with their original results.
Thank you, Vinicius. Thank you, Marinelli. Moving on to the end of our Q&A session. We have one last question from Vinicius Figueiredo from Itaú BBA. Vinicius, go ahead, please.
Good morning, everyone. Thank you for taking my question. [Non-English content] This question was asked a lot. I'd like to ask it in a different way to reinforce. When we're talking about the dynamics and the balance of growing members and also the claims ratio, it's pretty obvious that you're always thinking of the long term, the way you build your price. In order to understand, if we see that the medical inflation is getting heavier in the quarters and that there's a scenario of frequency that's stronger, would it make sense to think of the increases of prices? When we look at ANS, your price increases has been competitive compared to the market.
Could that increase get higher in the future? Another point that I'd like to mention about Atlântica. The results are a bit shy, I would say, when you look at the income statement. We only see the line of the net worth. Could you talk about the performance of the hospitals? To understand, when we think about health insurance in places where you have premium equipment, I understand that it's very important for you to sell a lot to stand out in market share gain. There's a negative side, that you increase the cost per member in a given place. I'd like to understand the balance between these two things when you think of future expansions. Thank you. That's it.
Thank you, Vinicius, for your question. Let's talk about growth. We need growth curves that are proportional. I can't let a claims ratio curve grow faster than price. It could happen in a specific case, you have to catch up with that real fast. That's why we have our actuarial models. That's why we have information at the micro level, not just medium or macro.
We also look at trends, that's why we transfer that to our price positioning, be it through products, commercial or promotional aspects, to make sure that we agree with the market and we design the future of these products in order to generate the industrial results. Yes, it could affect and it should affect higher claims ratio if you have then you'll have a higher price impact. If you don't do that'll affect the sustainability of the company in the future. In an environment with higher claims ratio, then you're going to have a higher price increase. Can't deny that. When you talk about hospitals and average cost in that place that's higher, yes, that's a fact.
According to our product, it is a product that I can make that tangible for our potential client or client that they have advantages in having a premium product such as ours when they do have access to equipment that is special in that region. Our dynamic is, if I don't invest in a specific market and have premium products and offer premium services and provide access to those service, it would be hard to make that tangible for a client, especially in the market that I'm going into. If there's a well-established competitor that applies other formulas, it would be hard to capture market share in that market.
There is, you need to see that there is income to buy unique products or choosing products that will offer you something unique in that region or having or giving you national access to other services that Bradesco Saúde offers. The perception, the day-to-day perception of that user that they see that they can have quick access to the unique products that enables the growth in a given market. That's why there's a, that strategy to have unique products such as Atlântica Hospitais e Participações and going into certain markets that we didn't operate beforehand with those products.
Perfect. Very clear. Thank you. [Non-English content]
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