Partner
Augusto Gitirana is a partner at Manhattan Atlantic Capital LLC. Prior to joining Manhattan Atlantic Capital LLC, Augusto served as Executive Director for Brazil Foods (BRF), a $14b sales for FY 2012 global foods company, where he consolidated the distribution of both beef and dairy products from 70 to 48 operations, resulting in $110m in cost savings. He also improved working capital by extending accounts payable from 51 to 62 days and reduced inventory by $400m.
Augusto also served as Vice President of NotreDame Intermédica, one of Brazil’s top three largest healthcare providers comprised of health insurance, dental insurance, 96 clinical centers, nine emergency rooms , four hospitals, private clinics and diagnostic centers. As Vice-President of Intermédica, Augusto spearheaded the company’s nationwide expansion, structured and managed seven business units, which led to an 18% increase in net income (roughly US$ 16.6 million) between 2006 and 2007. While at Intermedica, he was responsible for the Norclínicas acquisition, one of the biggest and most reputable medical healthcare businesses in Northeastern Brazil. This process included analyzing the business, conducting its due diligence process, negotiating the acquisition, changing management and improving the company’s profitability. As a result, Norclínicas net income increased seven-fold over a 12month period.
Augusto also served as CEO and Chairman of the Board of Hospital Memorial São José, a North Eastern Brazilian hospital with revenues of approximately US$ 200 M/Y, reaching a nominal growth of 103% EBITDA (2011), and a 28% increase in gross revenue. Augusto obtained his Bachelor’s Degree in Mechanical Engineering from Universidade Federal de Pernambuco and his Masters in Petroleum Engineering from Petrobras University.