This annual report contains forward-looking statements. Examples of such forward-looking statements include, but are not limited to: (i) statements regarding our results of operations and financial position; (ii) statements of plans, objectives or goals, including those related to our operations and to our pipeline of potential developments and acquisitions; and (iii) statements of assumptions underlying such statements. Words such as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “will” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should not place undue reliance on these forward-looking statements or projections. Although we believe that these forward-looking statements and projections are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those expressed in the forward-looking statements and projections. Factors that may materially affect such forward-looking statements and projections include, but are not limited to “Item 4. Key Information—D. Risk Factors” in this annual report. These risks and uncertainties include factors relating to:
| • | events or conditions that adversely affect our reputation or our image and our ability to support and strengthen our brands’ reputation among members, patients, medical community or suppliers; |
| • | our ability to implement estimate and control healthcare costs or raise prices to offset cost; |
| • | our ability to successfully manage relationships with third-party payers; |
| • | changes in reimbursement regulation or social security regimes; |
| • | the availability and effective operation of management information systems and other technology; |
| • | our ability to protect ourselves against cybersecurity risks; |
| • | our ability to successfully compete in all segments and geographical markets where we currently conduct business or may conduct businesses in the future; |
| • | our ability to continue attracting and retaining new appropriately-skilled employees, especially for our medical staff; |
| • | our compliance with, and changes to, government laws, regulations, or changes to the interpretations of such laws and regulations, and tax matters that currently apply to us in Mexico, Peru and Colombia; |
| • | our ability to make acquisitions on favorable terms and to integrate them successfully into our existing operations; |
| • | our ability to arrange financing when required and on reasonable terms; |
| • | our ability to manage operations at our current size or manage growth effectively; |
| • | our ability to diversify our suppliers for medical equipment and supplies, as well as distressed supply chains, could increase our costs and create operational risks; |
| • | potential liability in connection with managing medical practices, onsite clinics and other types of medical facilities; |
| • | the outcome of litigation, regulatory audits and investigations; |
| • | our compliance with applicable privacy, security and data laws, regulations and standards; |
| • | general economic, financial, political, demographic and business conditions in Mexico, Peru and Colombia and their impact on our business; |
| • | adverse weather conditions, including those related to climate change events, and public health threats or outbreaks of communicable diseases, such as the COVID-19 virus and others; |
| • | government intervention and trade barriers, resulting in changes in the economy, taxes, rates, prices or regulatory environment, and investors’ perception of the political instability in the countries where we operate; |
| • | fluctuations in interest, inflation and exchange rates in any of the countries where we operate or may serve in the future; |
| • | the interests of our principal shareholders; |
| • | the prices of our class A shares may be volatile or may decline regardless of our operational performance; |
| • | other risk factors discussed under “Risk Factors.” |
These cautionary statements should not be construed by you to be exhaustive and are made only as of the date of this annual report. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should evaluate all forward-looking statements made in this annual report in the context of these risks and uncertainties.
