Improving Medical Services in Argentina (IDBI-15364-01)

Countries
  • Argentina
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Hold
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 30, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
International Health Services Argentina SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 27.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 27.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 27.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS May 4, 2026

Disclosed by Bank Mar 17, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the IDBI, the proposed transaction consists of a senior secured financing for an amount of up to US$27 million, in favor of International Health Services Argentina S.A. ("IHSA" or the "Company").

The loan proceeds will be allocated for the acquisition and development of new technologies, operational infrastructure and facilities. In particular, the main investments of the Project will be oriented to: (i) the acquisition of new medical equipment; (ii) the incorporation of operational infrastructure for the development of new business lines; and (iii) the updating and modernization of technology and communications systems (collectively, the "Project").

IHSA began its operations in 1979 under the name Emergencias Sociedad Anonima, initially focusing on the provision of out-of-hospital medical services to individual clients in the City of Buenos Aires.

Currently, GRUPO IHSA., commercially known until now as "Emergencias", provides coverage, through its private and associate network, to more than 3.1 million patients annually, through its different brands: Emergencias, Emerphone, Contigo, Eca, Embarazadas, Uell and Emermind. Through these business units, the Company offers a wide range of services, including medical care, home care, emergency transfers (medical and special), medical teleassistance, complex operations (including medical and emergency services in hard-to-reach areas), coverage and provision of health services at airports, technological development, training and corporate medicine, among others.

During the year 2025, the group's companies performed approximately 2.5 million medical consultations. Likewise, IHSA has 43 operational bases and stations, employs more than 4,404 employees and has a fleet of more than 439 vehicles.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to the IDBI, IHSA began its operations in 1979 under the name Emergencias Sociedad Anónima, initially focusing on the provision of out-of-hospital medical services to individual clients in the City of Buenos Aires.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - International Health Services Argentina S.A. Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

PHONE NUMBER: +11 5909 9844

POST OFFICE ADDRESS: Av. Melian 2752 - (C1430EYH) CABA, Argentina

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IDB Invest)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IDB Invest is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).

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How it works