Auna is a Latin American healthcare company that owns and operates private hospitals and clinics in Mexico, Peru, and Colombia, and sells prepaid healthcare plans in Peru and Mexico. Auna targets demand for quality private healthcare in markets where public systems are underfunded. The company focuses on medium- to high-complexity care — oncology, cardiology, neurology, orthopedics, and organ transplants — which carry higher pricing and margins than routine care. Auna generates revenue through two streams: fee-for-service hospital care billed to private insurers or patients directly, and prepaid oncology and general health insurance plans. The plan business, run through Oncosalud in Peru, is vertically integrated — Auna acts as both insurer and care provider, with roughly 97% of plan services delivered within its own network. This integration lets Auna manage treatment costs directly and invest in early detection to reduce claims. Auna is replicating this model in Mexico via its OncoMexico product, using Auna Seguros' existing insurance license and ~3.5M dental and vision memberships as a distribution base. Peru is the most mature segment, anchored by Clínica Delgado in Lima. Mexico, centered on three hospitals in Monterrey, is the primary growth focus, with plans to invest ~$500M across major Mexican cities over the next several years. Colombia operates five hospitals and contributes scale, though cash flow management is complicated by reliance on financially stressed government-linked insurers.