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Joaquin Berro

Research Analyst at Fundamental Capital

Joaquin Berro is an analyst at Fundamental Capital specializing in coverage of Latin American healthcare companies, with a particular focus on firms such as Auna SAA. Known for in-depth sector research, Berro has engaged directly with management teams to analyze corporate strategies, regional expansion, and risk profiles. While detailed quantitative performance metrics are not publicly available, he is recognized for insightful questioning of listed firms during earnings calls, reflecting a solid understanding of cash flow, leverage management, and growth drivers in emerging markets. Career and credential specifics beyond his role at Fundamental Capital are not confirmed from public sources.

Joaquin Berro's questions to AUNA (AUNA) leadership

Question · Q3 2025

Joaquin Berro inquired about Auna's expansion plans, specifically if there are intentions to add more beds in Peru and the expected number of beds from the $500 million expansion plan in Mexico.

Answer

Suso Zamora, Executive Chairman and President, Auna, stated that Auna does not provide specific guidance on capacity growth projections. However, he indicated a directional increase in capacity, including beds, chemotherapy, radiotherapy, and surgery rooms in Peru, with some new plans potentially inaugurated in 2027. In Mexico, the strategy involves repeating urban ecosystems of healthcare, requiring a minimum of 75-150 beds per city, and investing more in ambulatory care as high-complexity medicine shifts towards outpatient services.

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Question · Q3 2025

Joaquin Berro inquired about Auna's expansion plans, specifically if there are intentions to add more beds in Peru and, regarding the $500 million expansion plan for Mexico, how many beds are expected to be added.

Answer

Suso Zamora, Executive Chairman and President, stated that Auna does not provide guidance on capacity growth projections but directionally expects to increase capacity, including beds, chemotherapy, radiotherapy, and surgery rooms, particularly in Peru, with some inaugurations planned for 2027. He mentioned investing more in ambulatory care in cities with large hospital footprints, aligning with the shift towards outpatient services for high-complexity medicine. In Mexico, Auna aims to replicate its urban ecosystem strategy, requiring 75-150 beds minimum for new facilities in each city.

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