The legal and compliance team provides comprehensive support across the CUF Group, advising the Board of Directors, Executive Committee, corporate functions and business units on M&A, finance, corporate, contractual, regulatory, employment, litigation and compliance matters.

Over the past two years, the team has played a central role in several strategic transactions. These include the acquisition and integration of the Arrifana de Sousa Group, a network of seven healthcare units and around 700 employees, involving due diligence, competition clearance and negotiation of the share purchase agreement, followed by a complex integration process focused on aligning operations and mitigating risk.

The department also led the acquisition of Atlanticare and the subsequent integration with SAGIES into a single entity, including the negotiation of transactional and shareholders’ agreements and the restructuring of assets into the combined business. A similar role was played in the acquisition and integration of the Mimed clinic network, comprising 13 units.

In parallel, the team supported CUF’s diversification of funding sources through a €60 million retail bond issuance linked to sustainability targets, reinforcing the group’s financial strategy and ESG commitments.

More recently, the department advised on the acquisition of the HPA Saúde Group, a leading healthcare provider in the Algarve, Alentejo and Madeira, with five hospitals and 17 clinics. This complex transaction involved due diligence, negotiation of acquisition and shareholders’ agreements, and an in-depth Phase II review by the Competition Authority, requiring the adoption of commitments.

I believe that a combination of qualities is essential for external advisers to truly add value to the process. Undoubtedly, specialised expertise in the relevant area, combined with a strong understanding of the sector, and the ability to respond strategically are critical. From my perspective, I place particular importance on preparation and alignment with the client’s profile. In a corporate environment, advice must be clear, concise and effective. It is crucial to understand both the decision-maker and the company’s strategy, in order to deliver solutions that genuinely address the issue and act as true enablers of business projects.

The legal department at CUF is a highly specialised team, with expertise tailored to the sector. Its role has evolved significantly, moving from a traditional legal support function to a more strategic and proactive involvement in the business and its projects.

My vision is for the legal department to be recognised as a fundamental part of all CUF’s activities and initiatives, shifting from a reactive function to one that is actively involved in prevention and decision-making. The integration of Compliance has been critical to this development; working closely with Legal, it ensures regulatory alignment and supports the sustainable consolidation and expansion of the CUF Group.

In our view, the greatest strategic value of the in-house legal function lies in its proximity to management, allowing risks to be identified early and appropriate solutions to be implemented, thereby ensuring the sound and secure execution of the Group’s key strategic initiatives.

We are currently experiencing a particularly challenging regulatory environment. In the healthcare sector, the most significant changes relate to licensing requirements, which have undergone substantial revisions and will require hospitals and clinics to adapt accordingly. This will undoubtedly be a major development and will involve significant investment.

Although not specific to healthcare, data protection and artificial intelligence legislation have also had a major impact, requiring companies to implement new processes and governance frameworks to comply with emerging obligations.

From a broader perspective, EU Taxonomy legislation has also had a considerable impact, requiring organisations to adapt to new reporting requirements. While these processes can be complex and bureaucratic, the real challenge lies in ensuring that management views them as genuine strategic opportunities rather than mere compliance exercises.

At this stage of expansion, we are implementing several key tools within the legal function to address growing demands. These include a contract management platform, the adoption of a legal AI tool to support research into legislation, doctrine and case law, and plans to introduce a solution to assist with the corporate secretariat of the Group’s governing bodies.

Technology will undoubtedly enable us to scale our work more effectively, ensuring that the Legal Department is well positioned to support the continued growth and expansion of the CUF Group.