Conexa and Zenklub Merge to Bridge Physical and Emotional Health in Latin America

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team
Published on October 18, 2023

Conexa, the leading Brazilian company in the provision of online healthcare services, and Zenklub, a Portuguese online operator in the provision and support of mental healthcare operating in Brazil, have today announced their merger.

Conexa will benefit from the strengthening of the team and business developed by Zenklub and will have an even more diversified investor base, including Goldman Sachs, General Atlantic, Kamaroopin (Pátria), Indico Capital Partners, and Good Karma Partners. As a result, the current shareholders of Zenklub will directly hold a significant stake in Conexa’s capital. The total capital raised by the two companies currently exceeds €55 million. 

The operation is still subject to the confirmation of certain formalities, namely by Brazil’s Competition Authority, and its completion is expected to happen by the end of the year.

Conexa is widely recognized for its innovative telemedicine platform, connecting patients to doctors, psychologists, and nutritionists. It conducts over 400,000 appointments monthly, with 180,000 of these focused on mental health. The company has stood out for promoting comprehensive and integrated access to healthcare, actively collaborating with leading insurance companies in Brazil. Conexa’s telemedicine platform has contributed to the democratized access to high-quality healthcare for over 20 million people, regardless of their geographical location.

Zenklub, in turn, has solidified its position in the corporate emotional health market over the last seven years, pioneering the normalization of mental health in the corporate environment and expanding access to emotional healthcare for over 500 companies such as Volkswagen, Azul, and RaiaDrogasil.

The merger will result in the creation of the largest digital healthcare company in Latin America, with a powerful synergy in the integration of physical and mental healthcare, one of the key points of synergy between the companies. The patient’s journey takes place through a data-driven technological platform.

“We are excited to have Zenklub join us on this journey,” said Guilherme Weigert, CEO of Conexa. “We will bring a unique solution to a healthcare market in crisis, with rising healthcare costs and a lack of patient journey coordination, providing access to a network of experts and quality customized programs for millions of Brazilians in one place.”

Rui Brandão, CEO of Zenklub, also shared his vision. “This move will enable us to offer more comprehensive and accessible solutions for people’s well-being,” he said. “Our mission is to improve the health of millions of Brazilians, recognizing the importance of an integrated approach to health in addressing current challenges. Joining forces with Conexa accelerates our progress in this mission.”

Stephan Morais, Managing General Partner of Indico Capital Partners, highlighted the following: “We were the first fund to invest in Zenklub at the beginning of its presence in the Brazilian market, before mental health became such a widely discussed topic. This merger with Conexa, gives us the confidence to take the next step as key shareholders in the combined entity, which will lead to even faster expansion in Latin America.”

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team

Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.

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