Brazil's Oncoclinicas approves financing to fund medicine purchases

About this update from Oncoclinicas Do Brasil Servicos Medicos Sa

Brazilian healthcare firm Oncoclinicas' BMFBOVESPA:ONCO11 board approved on Thursday a financing proposal from MAK Capital and Lumina worth between 100 million reais ($20.04 million) and 150 million reais, aimed at enabling the company to purchase medicines from distributor OncoProd.The operation, to be financed by Lumina, will enable Oncoclinicas to acquire medicines from OncoProd and preserve revenue generation and supply chain continuity, the company said in a securities filing.As a condition of the proposal, Bruno Lemos Ferrari resigned as member and vice president of the board.($1 = 4.9911 reais)

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