UFH Guangzhou Loan (IFC-35988)

Countries
  • China
Where the impacts of the investment may be experienced.
Specific Location
Guangzhou
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 2, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
GUANGZHOU UNITED FAMILY HOSPITAL LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • 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, etc.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 120.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 11, 2017

Disclosed by Bank Oct 14, 2015


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Project Description
This project finances the construction of a greenfield 150-bed general hospital in Guangzhou, Guangdong Province of the People’s Republic of China. The hospital will have a total built-up area of about 70,000 sqm spanning 15 stories above 3 levels of basement.
Investment Description
  • International Finance Corporation (IFC)
This project comprises of an investment in Healthy Harmony Holdings (HHH) consisting of a senior loan of up to US$40 million from its own accounts and US$20 million senior loan from Managed Co-Lending Portfolio Program where IFC is acting as the implementing entity. The proposed new investment will be through its subsidiary UFH Guangzhou Hospital. HHH is a major private healthcare company providing international standard healthcare services in China through the operations of United Family Healthcare network hospitals and affiliated clinics. Roberta Lipson is the founder. HHH is a longstanding IFC partner who is a standard setter and a pioneer in innovative integrated healthcare model in the China market. HHH is now expanding its innovative approach to comprehensive healthcare beyond its traditional market in Beijing and Shanghai. Founded in the 1982 and originally focused on medical device business, Chindex International Inc., is a major private healthcare company providing premium quality healthcare services in China. Chindex, formerly listed on NASDAQ, is an existing IFC client, which now operates under newly incorporated Healthy Harmony Holding LP through the operations of United Family Healthcare brand of network hospitals and affiliated clinics.
Contact Information
Name: Wang Fei Tel: 8610-5927 7277 Email: mailto:wang.fei@ufh.com.cn #2 Jiangtai Road, Chaoyang District, Beijing ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/