About

Since 2015, Nicolás Cabello Eterovic has served as general counsel of Banmédica, the holding company of Empresas Banmédica, a healthcare leader company in Chile, Perú and Colombia. In this position, he is responsible for defining, implementing, and monitoring the legal strategies for the company. In 2017 and 2018, he consulted on the acquisition of control by UHG and has actively participated in the integration process of the company with UHG, something that has been challenging due to the applicable regulatory restrictions and the cultural differences among industries. In 2015, the holding company did not have a consolidated legal team, and the legal advisors among the different companies of the group worked without coordination. This situation produced inefficacies and hindered the reporting from the subsidiaries, especially the Colombian and the Peruvian ones. He highlights that, ‘since I assumed as general counsel of Empresas Banmédica, I have made a priority to form a legal team of my trust in Chile, Perú and Colombia. Today, I am proud to say that we have consolidated a qualified group of 35 professionals in the legal area, distributed in Chile, Perú and Colombia, able to counsel in accordance with the specific needs of each of our companies’. He has structured the legal department and engaged two senior lawyers, to become responsible for counselling leaders in every aspect of their operation, and to assume the coordination of external legal advisors for hospitals and clinics. In 2017, Cabello Eterovic advised on the sale of the total participation of Empresas Banmédica in I-Med to Accel-KKR, a US investment fund. I-Med is a Chilean technology company and pioneer in integrating processes of all the different constituents that participate in the Chilean healthcare market. The transaction was valued in US$82.5m. Additionally he has actively participated in the definition of legal strategies in the different litigation processes in which our companies have been involved. He identifies that because ‘the health industry in Chile, Perú and Colombia is subject to significant litigation on different areas (civil, labour, tax, constitutional and more), having an appropriate legal approach is crucial’. After more than eight years working for Banmédica, Cabello Eterovic has gained significant knowledge of the health law and regulations in South America, both in the insurance and in the delivery sides. This has permitted him to contribute in the adoption of strategic corporate decisions of the company, always with a sustainable and results-oriented approach. In the words of a nominator, ‘He has a deep understanding of the complexities of the legal system in the industry and can anticipate potential obstacles during legal and business negotiations. He was involved in the discussion on the reform of private medical insurance and will have a relevant role considering the importance of Banmédica within this industry’.