Improved Cash Generation & LiquidityMaterial free‑cash‑flow and cash balance gains strengthen the company's liquidity cushion, a durable enabler for deleveraging, funding modest 4% revenue CapEx, and supporting strategic projects (PPP and clinic expansion). Strong cash buffers reduce refinancing stress and increase optionality over multiple quarters.
Large Refinancing Lowered Funding CostsA sizable refinancing that meaningfully cut blended interest costs and extended maturities materially improves the capital structure. This structurally reduces interest expense and short‑term rollover risk, giving management multi‑quarter runway to execute deleveraging toward a 3.0x target and invest in recovery initiatives.
Long‑term PPP (Torre Trecca) With De‑risked FundingThe Torre Trecca concession creates a predictable, long‑dated organic growth avenue with reimbursed construction and minimum payments, limiting upfront capital needs. As a potential 20–25% contributor to Peru business at maturity, it structurally expands outpatient capacity and recurring revenue without heavy initial balance‑sheet strain.