Auna Sets Stage for Growth in 2026 as Mexico Operations Stabilize
Auna, the leading provider of healthcare services in Latin America, has emerged from a challenging year with a renewed sense of purpose and momentum. During its fourth quarter 2025 earnings conference call, the company reported a stabilization of its Mexico operations, which are now poised for sustained top-line and EBITDA growth in 2026.
Under the leadership of Auna's new management team in Mexico, the company has focused on expanding its reach into the larger segments of privately insured families and furthering its alignment with certain physician groups. These initiatives, while implemented late in the year, demonstrate a clear path forward for Auna in Mexico. Notably, the company was once again included in policies serving the larger segment of privately insured markets, and it secured an exclusive agreement to cover most services for ISSSTE León, the Social Security institution covering all state employees in Nuevo León.
The results in Peru continued to outperform and underpin Auna's overall performance, driven by a strong pricing mix in healthcare services and a record-low medical loss ratio. Peru has operational scale and significant runway for growth, with the company recently announcing an agreement with EsSalud under a public-private partnership framework to refurbish and operate a 600,000 sq ft high-complexity outpatient facility in Lima. This expansion will increase access to care for approximately 3 million patients currently served by EsSalud.
In Colombia, Auna's results came in line with objectives to grow while improving cash flow, achieved through a higher mix of risk-sharing contracts and reduced reliance on intervened payers.
Auna's Executive Chairman and President, Jesús Zamora, expressed optimism about the company's prospects for 2026. "We have stabilized our Mexico operations," he stated, "and are now poised to deliver sustained top-line and EBITDA growth in 2026." The company's Chief Financial Officer and Executive Vice President, Gisele Remy, echoed this sentiment, highlighting Auna's strategic growth initiatives as a key driver of future success.
With its Mexico operations stabilized and Peru continuing to outperform, Auna is well-positioned for growth in 2026. The company's focus on expanding its reach into larger segments of privately insured families and furthering its alignment with physician groups will be crucial in driving this growth forward.
