Jorge Moll Filho was born in Rio de Janeiro on January 23, 1946.
After graduating in medicine from Rio de Janeiro Federal University, Jorge began his practice as a cardiologist. In 1977, the doctor, at 32, together with his wife Alice, made his first investment: the Cardiolab, in Rio, specialized in medical diagnosis (echography, echocardiography). Between 1982 and 1988, Jorge expanded his activities in non-invasive cardiology diagnostics. He did not stop there and developed other laboratories around Rio. In 1992, the manager launched the concept of «all the exams in one place» and inaugurated 1st MRI machine in Rio.
Jorge realized that rich cariocas are poorly treated in Rio.
Whenever necessary, they prefer to go to reference hospital Albert Einstein in Sao Paulo. In 1998, the entrepreneur entered the hospital market with Barra D’Or Rio Hospital opening. In 2000, Jorge created a revolutionary concept of a hospital hotel in the southern part of Rio de Janeiro, with a 1,000 square meter area for emergency care.
Copa D’Or Hospital was the only hospital in Brazil with a helipad in southern zone.
A year later he launched the Quinta D’Or, to serve the population of central and northern Rio with first fully digital radiology.
In a country where public health service is not fully developed and where urban middle class is growing (and aging), Rede D’Or services have not failed to find takers. In addition, there was a regulation that prohibits foreign companies from investing in the health sector until 2015. This prohibition prevented the group from going public or obtaining foreign capital, but it also prevented too many competitors arrival. Path was clear for Jorge.
In 2006, the entrepreneurial doctor began an accreditation process in which health facilities are voluntarily evaluated by external organizations to determine whether they meet international standards. After 2007, a policy of expansion into other important cities such as Recife or São Paulo followed.
2010 was a big step when Fleury Group bought Grupo Labs for $750M.
Jorge used this capital to implement an aggressive growth strategy. He opened and acquired a number of state-of-the-art hospitals and maternity wards. 2015 was also a turning point as healthcare market became open for foreigners. Investors such as BTG entered the company’s capital.
In 2020, Jorge is leading the largest IPO since 2013.
Rede D’Or is valued at $22bn. Rede D’Or and shareholders (American fund Carlyle, Singapore GIC) managed to raise $2.4bn which will be used to build new hospitals and purchase assets (health insurance brokers and specialty clinics).
Jorge Moll Filho is the father of five children: Jorge, Renata, André, Pedro and Paulo. The three oldest are also doctors. Two youngest are at the company management. Pedro is at the board of directors. Paulo is an economist and at the beginning of 2020, after 4 years of preparation, he became CEO. All of them are shareholders, with 3.1% each, a precautionary principle to protect the leading family from a hostile takeover.
Jorge retains the important decisions, especially external growth strategies.
Jorge has always reinvested all his cash in his business. Until now, according to close sources, he has only owned an apartment. He is said to enjoy talking with Rede D’Or doctors and discovering new medical advances.
In 2020, Rede D’Or donated half of net profit to help fight the pandemic. Jorge has also called for the urgent construction of two hospitals.
The executive lives in Rio de Janeiro with his wife. He owns 18.7% of Rede D’Or Sao Luiz.
IN A FEW FIGURES
- Headquarters in Sao Paulo, Brazil
- 2021 Revenue: $4.4bn
- 2022 Revenue: $4.9bn
- Net Result 2022: $319M
- Market capitalisation: $13bn
- 59 hospitals
- 50 clinics
- 9 611 beds
HEALTH SECTOR IN BRAZIL
- Growth between 8 and 12% over the last 10 years
- 60% of the market is dominated by private companies
- Rede d’Or: largest independent private hospital group in the country
- 3rd in the world
- 1st outside the United States
- Rede d’Or : market capitalization 2x larger than its competitors
At 77, Jorge Moll Filho is Rede d’Or Sao Luiz founder and Chairman, largest private group of hospitals in Brazil. His fortune is estimated at $6.1bn (source: Forbes, June 2022).