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Auna S.A.'s Risk-Sharing Strategy in Colombia Supports Revenue Growth
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Key Takeaways
Auna S.A. grew Colombia revenues 6% as risk-sharing models like PGP expanded to 21% of segment revenues.
AUNA cut exposure to Nueva EPS, shifting volumes to other payors to support cash flow and limit risk.
Auna S.A. offset lower volumes with higher surgery tickets and growth in chemo and imaging services.
Auna S.A. (AUNA - Free Report) is focused on improving healthcare delivery in Spanish-speaking Latin America, where the private market remains fragmented and underpenetrated. Within this, Colombia continues to be a key market, both in terms of regional scale and its ability to maintain best practices in patient care and outcomes. In light of continued pressure from government interventions, the company adopted a strategy to limit risk exposure by calibrating growth and focusing on preserving cash flow.
Auna S.A. has lowered its exposure to Nueva EPS, one of the major government-intervened payors, and shifted volumes to other payors under risk-sharing models to support cash generation.
Progress with this strategy is visible in the numbers. In the fourth quarter of 2025, Auna S.A. expanded risk-sharing models such as Prospective Global Payments (“PGP”), which grew four percentage points to represent 21% of segment revenues. The onboarding of Salud Total under a new PGP program, alongside the expansion of PGPs, contributed to a 6% increase in Colombia revenues for the quarter.
While surgical volumes declined due to lower services to intervened payors, higher tickets for surgeries and growth in chemotherapy and imaging services more than offset this decrease. According to management, the transition toward more integrated solutions for payors, physicians and patients is helping Auna S.A. strengthen its presence in Colombia while enabling more predictable reimbursement structures and reducing business volatility.
Though Colombia remains strategically important for its scale and cost efficiencies, the company’s Mexico and Peru operations are expected to be the primary drivers over the next five years, given the huge growth opportunities.
Updates From AUNA’s Peers
Community Health Systems, Inc. (CYH - Free Report) announced that its subsidiary has completed the divestiture of substantially all assets of the 180-bed Crestwood Medical Center in Huntsville, AL, along with its associated outpatient centers and practices, to Huntsville Hospital Health System for $459 million, before certain transaction expenses. Another CYH subsidiary has entered into a definitive agreement to sell four Arkansas hospitals to Freeman Health System for $112 million, subject to certain adjustments based on closing net working capital and the amount of finance leases assumed by the buyer.
Labcorp Holdings (LH - Free Report) recently completed its acquisition of select assets of Crouse Health’s Laboratory Alliance of Central New York’s (Lab Alliance) laboratory business. The company has also entered into a strategic agreement to manage the daily operations of its inpatient laboratory. The transaction is expected to strengthen access to high-quality, affordable diagnostic services for patients and providers across Central New York through Labcorp’s expanded test menu, robust data and digital tools like Diagnostic Assistant and Test Finder.
The Zacks Rundown for AUNA Stock
Year to date, Auna shares have risen 17.7% against the industry’s 12.2%% fall.
Image Source: Zacks Investment Research
Auna S.A. is trading at a forward, one-year, price-to-earnings (P/E) of 6.49X, lower than its median and industry average.
Image Source: Zacks Investment Research
Take a look at how Auna S.A.’s earnings estimates are trending.
View the Zacks #1 Rank List
Image: Bigstock
Auna S.A.'s Risk-Sharing Strategy in Colombia Supports Revenue Growth
Key Takeaways
Auna S.A. (AUNA - Free Report) is focused on improving healthcare delivery in Spanish-speaking Latin America, where the private market remains fragmented and underpenetrated. Within this, Colombia continues to be a key market, both in terms of regional scale and its ability to maintain best practices in patient care and outcomes. In light of continued pressure from government interventions, the company adopted a strategy to limit risk exposure by calibrating growth and focusing on preserving cash flow.
Auna S.A. has lowered its exposure to Nueva EPS, one of the major government-intervened payors, and shifted volumes to other payors under risk-sharing models to support cash generation.
Progress with this strategy is visible in the numbers. In the fourth quarter of 2025, Auna S.A. expanded risk-sharing models such as Prospective Global Payments (“PGP”), which grew four percentage points to represent 21% of segment revenues. The onboarding of Salud Total under a new PGP program, alongside the expansion of PGPs, contributed to a 6% increase in Colombia revenues for the quarter.
While surgical volumes declined due to lower services to intervened payors, higher tickets for surgeries and growth in chemotherapy and imaging services more than offset this decrease. According to management, the transition toward more integrated solutions for payors, physicians and patients is helping Auna S.A. strengthen its presence in Colombia while enabling more predictable reimbursement structures and reducing business volatility.
Though Colombia remains strategically important for its scale and cost efficiencies, the company’s Mexico and Peru operations are expected to be the primary drivers over the next five years, given the huge growth opportunities.
Updates From AUNA’s Peers
Community Health Systems, Inc. (CYH - Free Report) announced that its subsidiary has completed the divestiture of substantially all assets of the 180-bed Crestwood Medical Center in Huntsville, AL, along with its associated outpatient centers and practices, to Huntsville Hospital Health System for $459 million, before certain transaction expenses. Another CYH subsidiary has entered into a definitive agreement to sell four Arkansas hospitals to Freeman Health System for $112 million, subject to certain adjustments based on closing net working capital and the amount of finance leases assumed by the buyer.
Labcorp Holdings (LH - Free Report) recently completed its acquisition of select assets of Crouse Health’s Laboratory Alliance of Central New York’s (Lab Alliance) laboratory business. The company has also entered into a strategic agreement to manage the daily operations of its inpatient laboratory. The transaction is expected to strengthen access to high-quality, affordable diagnostic services for patients and providers across Central New York through Labcorp’s expanded test menu, robust data and digital tools like Diagnostic Assistant and Test Finder.
The Zacks Rundown for AUNA Stock
Year to date, Auna shares have risen 17.7% against the industry’s 12.2%% fall.
Image Source: Zacks Investment Research
Auna S.A. is trading at a forward, one-year, price-to-earnings (P/E) of 6.49X, lower than its median and industry average.
Image Source: Zacks Investment Research
Take a look at how Auna S.A.’s earnings estimates are trending.
Image Source: Zacks Investment Research
AUNA carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.