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INSTITUCIONALPRESENTATION 2013

So Paulo

April 2013


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DISCLAIMER

This document contains forward looking

statements that can be identified by words likehope, plan, expect, believe, seek,estimate and similar words. The information inthis presentation regarding forward lookingstatements of the Company, including businessprospects, and operating, financial, and growth

projections are only predictions based onmanagement expectations regarding futureperformance. These estimates are highlydependant on the performance of the Brazilianeconomy, industry and international marketcondiitions. Therefore, they are subject to

change.


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4 MARKETS PRIVATE CLINICS LAB-TO-LAB PRIVATE HOSPITALS PUBLIC CLINICS AND HOSPITALS

19,000 EMPLOYEES

2,000 DOCTORS

Latin Americas Largest Diagnostics Company

DASA

ONLY HEALTH COMPANY

INCLUDED IN THE IBOVESPA INDEX


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BUSINESS RELEVANCE - REVENUE

4

66%

34%

CLINICALANALYSIS

IMAGE

SERVICE MIX

GROSS OPERATING REVENUE R$2.5 BN IN 2012


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PUBLIC

LAB-TO-LAB

PRIVATE CLINICS

10% 9%

7%

74%

PRIV.HOSP.

BUSINESS RELEVANCE - REVENUE

Outsourcing oflab and imageservices for 71privatehospitals

Outsourcing oflab and image

services in 86public hospitalsand 503 publicclinics

Serving private patientsin 8 of 10 majormetropolitan areas in452 Patient ServiceCenters (PSCs)

Outsourcing of basic

and complex tests

4,903 labs nationwide


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DIVERSIFIED REVENUE BASE

Self-Insured Corporations14.6%

Medical Cooperatives

Public Services

7.4%

Health Insurance Plans19.4%

Others

1.3%

Hospitals

9.4%

Individuals

8.8%

Lab-to-lab

9.7%

HMO

17.9%

11.7%


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12.03% 10.00% 56.31%5.01%

DISPERSED OWNERSHIP

Source: DASA (Reference Form)(1) Includes treasury shares representing 0.37% of total shares

STRATEGIC SHAREHOLDERS WITH LONG TERM FOCUS

11.56%

Others1Edson de

GodoyBueno

DulcePugliesede Godoy

BuenoPetros Others1BlackRock

5.09%

Oppenheimer


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Does not consider out of pocket market

Source: ANS, SUS, IBGE and company estimates

HEALTH EXPENDITURE IN BRAZIL

GDP

R$4.1 TRILLION

HEALTH EXPENDITURE: 9% GDP

R$370 BILLION

PUBLIC EXPENDITURE: 44%R$160 BILLION75% OF THE POPULATION

PRIVATE EXPENDITURE: 56%R$210 BILLION25% OF THE POPULATION


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Outsource rate: 15%

HEALTH EXPENDITURE IN BRAZIL

Does not consider out of pocket market

Source: ANS, SUS, IBGE and company estimates

DASA HAS 14%* SHARE IN A GROWTH MARKET

Outsourced Public Diagnostics MarketR$ 750 Million

DASA MARKET SHARE: 23% DASA MARKET SHARE: 14%

PUBLIC EXPENDITURE: 44%

R$160 BILLION

PRIVATE EXPENDITURE: 56%

R$210 BILLION

3% is spent in medical diagnostics 7% is spent in medical diagnostics

Public sectorR$ 5 Billion

Private marketR$ 14.7 Billion


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PRIVATE HEALTH INSURANCE ISESTIMATED TO GROW FROM 25% TO 30% OF POPULATION BY 2017

GROWING AWARENESS OF MEDICAL DIAGNOSTICS BENEFITSINCREASING NUMBER OF PER CAPITA ANNUAL TESTS

MORE OUTSOURCING BY PUBLIC STATE AND MUNICIPAL HOSPITALS

Increasing formal employment

Growing competition for labor driving employee benefits

POPULATION IS AGING. POPULATION OVER60 YEARS OLD EXPECTED TO DOUBLE BY 2032

OPPORTUNITIES FOR GROWTH


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Best brands in some local market

Prepared to grow in Middle Class Market187 PSCs with 8 brands in the standardsegment

DASA IS WELL POSITIONED IN THE MARKET

452

186

38

71

29

5,000 5,000

NUMBER OF

PSCsNUMBER OF

HOSPITALSNUMBER OF LAB-TO-LAB

CLIENTS

DASA FLEURY PARDINI DASA FLEURY DASA PARDINI

Most efficient because of scale

Nationwidepresence

Source: Companies website


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WORK IN PROGRESS

REFERENCE

PHYSICIANS TRAINING

OUR

PEOPLE

REFERENCEPHYSICIANS TRAINING

IT FRONT END SYSTEM

CLIENTS

CALL CENTER RENOVATIONS NEW EQUIPMENTS


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CALL CENTER

IMPROVING CUSTOMER CARE

17%

6%

JAN-SEPT2012

OCT-DEC2012

26% 26%

JAN-SEPT2012

OCT-DEC2012

SO PAULO RIO DE JANEIRO

Drop-out

rate

New Technology MORE STABILITY

PROCESSES revision

Centralization on 2 sites (used to be 4 in Rio) TEAM qualification


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INCREASE IN PRODUCTIVITY/VOLUME

INCREASE IN AVERAGE PRICE

(higher value added tests)

IMPROVING TECHNOLOGY ASSETS

KEY GAINS:

RENOVATIONS AND BUYING EQUIPMENT

WHEN TO REPLACE?

When there is an opportunity to INCREASE THE PRODUCTIVITY

When there is demand for MORE COMPLEX TESTS

End of LIFE

WHEN TO BUY?

When opening NEW UNITS

FULL OPERATING capacity


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RENOVATIONS AND NEW EQUIPMENTS

2011 2012

NEW UNITS 9 22

Standard 7 21

Mega 2 1

RENOVATION/EXPANSION OF UNITS 45 28

CT Installation 10 7

MRI Installation 5 10Other renovations 30 11


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MEDICAL RELATIONSHIPthrough events, lectures,

Contracting of REFERENCE PHYSICIANS

EDUCATION AND TRAINING for existing physicians

REFERENCE PHYSICIANS

MEDICAL PROJECTat the Unit

IMPROVING THE QUALITY OF WHAT WE DO

symposiums, and Inovar magazine


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EFFICIENCY, QUALITY, AND PROCESS STANDARDIZATION

INOVA: NEW FRONT END SYSTEM

TODAY26BRANDS20 FRONT END

SYSTEMS


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1

INOVA: MATERIAL GAINS

2

34

5

6

Improve PRODUCTIVITY

Integration with CRM

SINGLE NATIONAL MEDICAL RECORD for physician and patient

MULTI-BRAND scheduling

Call Center: HOME OFFICE

UNIFIED database for management

INOVA web mobile

collaborative integrated to the

medical world


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INOVA: SCHEDULE

4 brands implemented in 2012

20%

1Q13

50%

2Q13

70%

3Q13

100%

4Q13

% of Revenue


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RECEIVABLES

WHAT WE ARE DOING

INTERNALIZATION of Key Processes

DESCENTRALIZATION of the Process forREGIONAL BRANCHES(efficiency and focus)

Higher number of CONTRACTSpaid viaPAYMENT SLIPS

LOSS AS % GROSS REVENUES

2011 2012

3.8%

3.1%

HOW WE ARE EVOLVING


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CAPEX

CAPEX 2012

R$234.4 MM in 2012

Driver for Capex expenditure: LOWER THAN NET CASH GENERATION

Openingand

expansion ofunits

43.6%Equipment26.4%

IT22.0%

Other

2.3%

Real State

5.7%


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PRIORITIES FOR 2013

MAXIMIZE RETURN ON EXISTING ASSETS1

LEVERAGE REVENUE2

REDUCE COSTS AND EXPENSES3

IMPROVE OPERATION QUALITY4

PEOPLE - MERITOCRACY5

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PRIORITIES FOR 2013MAXIMIZE RETURN IN EXISTING ASSETS

KPIs

Increase the PSCsOCCUPATION

LEVEL Increase Equipment

OCCUPATION LEVEL

Ensure RETURN ON INVESTMENT

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PRIORITIES FOR 2013LEVERAGE REVENUE

Prospect NEW PAYERS (private, public,hospitals, support)

Increase the SHARE OF CURRENTCUSTOMERS

Increase the REVENUE FROM

INDIVIDUALS PRICE adjustment

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KPIs


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PRIORITIES FOR 2013OPERATION QUALITY

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KPIs Improve the service level of the

CALL CENTERand PSCs

Ensure return from REFERENCE

PHYSICIANS Ensure the QUALITY OF TESTS and

the PERCEPTION FROM THEMEDICAL COMMUNITY in CLINICAL

ANALYSIS Ensure deadlines and quality of

implementation of INOVA Capturegains on PRODUCTIVITY


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PRIORITIES FOR 2013PEOPLE

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KPIs

MERITOCRACYPerformance evaluation

Ensure organizationalTURNOVER


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Q&A

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Cynthia Hobbs CFOPaulo Bokel IR OFFICER


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FINANCIAL RESULTS

1/15

$


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Gross revenue reached R$ 2.490 MILLION in the year, a growth of4.2%

GROSS REVENUE (R$ MILLION)

396 398

205 206

4Q11 4Q12RID Clinical Analysis

601 604

0.6%

0.5%

0.5%

1,558 1,635

832 855

2011 2012RID Clinical Analysis

2,3902,490

5.0%

2.7%

4.2%

2

PATIENT SERVICE CENTERS


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MORE COMPREHENSIVE imaging mixincreasing average value per requisition

Clinical Analysis volume impacted byrestrictions to PAYERS

GROSS REVENUES (R$ MILLION) AVERAGE REVENUE PER REQUISITIONAND VOLUME (MILLIONS)

PATIENT SERVICE CENTERS

122.9124.3 124.1

128.6

124.0126.5

130.5

134.5

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12

Requisitions Average Requisition Price

3.7

3.3 3.5

3.8 3.4 3.6 3.6 3.3

1021.4 1059.7

728.9774.0

2011 2012

RID Clinical Analysis

58.4%

41.6%

1,750.31,833.7

42.2%

57.8%

3.8%

6.2%

4.8%

262.2 258.0

179.3 185.9

4Q11 4Q12


59.4%

40.6%

441.6 444.0

41.9%

58.1%-1.6%

3.7%

0.5%

3


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HOSPITALS

DISREGARDING SO LUIZ HOSPITALS, thegrowth would be 8.1% in 4Q12 and 11.3% in

2012 Focus on INCREASING PROFITABILITY

cancellation of hospitals contracts

NEW CONTRACTS already in operation in1Q13:Hospital Unimed RJ and HospitalBraslia

172.2 181.7

250.4

51.6

2011 2012


68.8%

31.2%78.2

233.3

22.1%

77.9%5.5%

-34.0%

-6.8%

43.9 45.8

18.8 12.9

4Q11 4Q12


70.0%

30.0%

62.758.7

22.0%

78.0%4.3%

-31.6%

-6.5%

63.948.1

57.2 56.250.9 49.8 52.2 56.5

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12

Requisitions Average Requisition Price

1.11.3

0.9

1.2 1.1 1.1 1.2

1.0

GROSS REVENUES (R$ MILLION) AVERAGE REVENUE PER REQUISITIONAND VOLUME (MILLIONS)

4


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Increase in the number ofREQUISITIONS

(+ 8.5%) Focus on MAXIMIZING PROFITABILITY

Impact of local elections and CHANGES OFGOVERNMENTS

Performance B2B

LAB-TO-LABGROSS REVENUES B2B (R$ MILLION)

2011 2012

232.4

4.5%

242.7

57.9

4Q11 4Q12

57.21.3%

4,912 4,903

47,306 49,506

2011 2012

# of Laboratories Average Revenue/Laboratory (in R$)

5


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Strong growth mainly due to NEW CONTRACT with the Rio de JaneiroMunicipality

PERFORMANCE B2G

PUBLIC HOSPITALS AND CLINICS

GROSS REVENUES (R$ MILLION)

180.2

2011 2012

157.0

14.8%

43.7

4 11 4 12

39.7

10.2%

619 589

253.6

305.9

2011 2012

# collecting site Revenue per colleting sites

6


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COSTS

2012 vs

2011

2012 2011 2012 2011 %

Personnel 457.7 390.2 20.2% 17.9% 17.3%

Materials 402.5 391.3 17.8% 17.9% 2.9%

Services and Utilities 587.1 519.1 25.9% 23.8% 13.1%

General 23.6 24.3 1.0% 1.1% -2.9%

Cost of Services Cash 1,470.9 1,324.9 65.0% 60.8% 11.0%Depreciation and amortization 94.1 74.3 4.2% 3.4% 26.5%

Cost of Services 1,564.9 1,399.2 69.1% 64.2% 11.8%

In R$ Million % of Net Revenues

PERSONNEL: enhanced costumer quality

MATERIALS: productivity improvement

SERVICES AND UTILITIES: doctors fees, data link (redundancy toincrease reliability) and occupancy costs

7

SG&


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SG&A

(*) As of 1Q12, the PDA is being considered under the "discounts" the income statement

GENERAL AND ADMINISTRATIVE : receivables personnel increaseand call center, besides marketing expenses

2012 vs

2011

2012 2011 2012 2011 %General and Administrative 403.0 361.1 17.8% 16.6% 11.6%

Profit Sharing Program 7.1 9.5 0.3% 0.4% -24.9%

Other Operating Revenues/ Expenses (24.2) (15.2) -1.1% -0.7% 58.9%

Prescribed Tax Reversal - (13.7) 0.0% -0.6% -100.0%

PDA* - 13.8 0.0% 0.6% -100.0%

Cash Operating Expenses 386.0 355.4 17.0% 16.3% 8.6%

Depreciation and Amortization 68.3 51.3 3.0% 2.4% 33.2%

Operating Expenses 454.3 406.7 20.1% 18.7% 11.7%

In R$ Million % of Net Revenues

8

ACCOUNTING EBITDA (R$ MILLION)


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ACCOUNTING EBITDA (R$ MILLION)

EBITDA

Margin

105 74

19.8%

13.4%

4Q11 4Q12

-29.7%

500407

22.9%18.0%

2011 2012

-18.6%

9

IR/CSLL


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OPTIMIZED FISCAL BENEFIT expected after the incorporation of MD1

* Withholding tax (current): Originally from financial income and withholding of gross revenue

IR/CSLL

35.4%

28.0%

34.0%

1.4%

-8.3%

0.8%

Income Tax Rate permanentsadjustements in

tax books

Income Taxes(Financial

Statements)

TaxLoss/GoodwillCompensation

Other Withholding tax(current)/

Income taxes

cash*

2012

10

RECEIVABLES


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(1) Index coverage = BDP balance/ expired > 120 days

RECEIVABLES

112,9

101,2100,0 100,3

101,4

4T11 1T12 2T12 3T12 4T12

Unbilled services Average collection period

R$ million 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12Accounts receivable 399.7 385.5 409.7 398.0 423.7 415.9 432.4 376.8

Past due 0-90 59.7 71.1 85.0 74.7 74.3 78.0 87.2 94.8

Past due 91 - 120 8.2 12.2 11.3 10.1 10.7 10.8 8.3 16.1

Past due (more 84.9 83.3 92.4 111.2 111.2 113.8 117.6 119.9Provisions (84.2) (71.7) (75.1) (103.9) (102.7) (106.1) (105.5) (109.2)

Total Rec. 466.2 481.7 523.3 490.1 517.1 512.4 540.0 498.5

Coverage Index 99.1% 86.1% 81.3% 93.4% 92.4% 93.2% 89.7% 91.1%

Provision rule

91 to 120 days 25%

121 to 180 days 50%

181 to 360 days 75%More than 361 days 100%

112.4 111.8

129.2135.5

127.9119.0

80.1 82.7

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12

11

BALANCE SHEET MANAGEMENT


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260.5

(119.8)

(987.8)

(847.1)

Debt Composition(R$ million)

Cash and Cash Equivalents

Debt Short Term

Debt Long Term

Net Debt*

Operating cash flow is POSITIVE andhigher than CAPEX

Lower NET DEBT compared 3Q12 andless costly each quarter

BALANCE SHEET MANAGEMENT

(*) Methodology adopted by fiduciary agent

Management Cash Flow (R$ Million) 4Q12

Accounting EBITDA 73.5

Operacional working capital 49.8

Other working capital accounts 3.1

Financial expenses (22.1)

Income tax (8.0)

Operational cash flow 96.3

Capex (56.2)

Sale of Fixed Assets 49.1

Free Cash Flow 89.2

Management Cash Flow (R$ Million) 2012

Accounting EBITDA 407.3

Operacional working capital 15.3

Other working capital accounts (37.0)

Financial expenses (113.7)

Income tax (24.1)

Operational cash flow 247.9

Capex (234.4)

Sale of Fixed Assets 49.1

Free Cash Flow 62.6

12

ROIC(*)


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ROIC is IMPACTED inthe short term by theINCREASED CAPEX

ROIC(*)

17.4%14.2%

16.3%

11.7%

9.1%

2011 1Q12

LTM

2T12

LTM

3T12

LTM

2012

(*) Considering current EBITDANOPAT LTM/mean(working capital + intangible assets + fixed assets value for Exchange of shares of DASA and MD1)34% effective rate of Income Tax

13

CAPEX


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Capex Breakdown 2012

4Q12:1 MRI, 3 NEW PSCs AND REMODELED 1 OTHER

2012: 10 MRI, 7 CTs, 22 NEW PSCs and 11 REMODELED 11

R$ 56.2 MM in 4Q12 and R$ 234.4 MM in 2012

CAPEX

(*) Do not consider the sale of fixed asset of R$ 49.1 million

Opening andExpansion of

PSCs43.6%

Equipment26.4%

InformationTechnology

22.0%

Others2.3%

Real Estate5.7%

14

CONTACTS


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