Columbia China (IFC-36943)

Countries
  • China
Geographic location where the impacts of the investment may be experienced.
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
Completed
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."
Borrower
CHINA REHAB HOSPITAL (HK-SHANGHAI) PRIVATE LIMITED
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 Amount (USD)
Not Disclosed
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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 20, 2017

Disclosed by Bank Nov 13, 2015

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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 bank documents, Columbia China (http://www.columbia-china.com) is an American-invested, privately-held healthcare operator headquartered in Shanghai ("Columbia China" or the "company"). Founded and managed by Seattle-based Columbia Pacific Management Inc. ("CPM") that has developed and operated hospitals, clinics and senior housing in Asia for over 20 years, Columbia China will establish and develop general hospitals, specialist hospitals, rehabilitation facilities and clinics throughout China to meet an increasing demand for world-class healthcare services.CPM invited IFC to participate along with CPM-managed Columbia Pacific China Healthcare Fund, LP ("CPCHF") and third party investor(s) in a Joint Venture ("JV") to be established for the development and expansion of its private hospital, clinic and senior care business in China. The proposed IFC investment is: (i) a US$25 million C loan for IFC's own account, convertible in or exchangeable for stake in the JV; and (ii) a US$25 million direct equity investment in the JV.The proceeds from IFC financing will be used for (i) renovation and upgrade of Shanghai Kaiyuan Orthopedic Hospital ("Kaiyuan"), which CPM acquired in May 2015; (ii) development of greenfield hospitals; and (iii) acquisition of hospitals in future (the "project").Kaiyuan is a fixed-point medical insurance orthopedic hospital recognized by the Shanghai Municipal Health Bureau, as Shanghai Four-Star Demonstration Hospital. The hospital is an operational 200-bed facility, located at No. 88, He Ze Rd., Pudong New Area, Shanghai, with a total built-up area of 13,000 square meters. Kaiyuan houses physiotherapy and rehabilitation, anesthesiology, orthopedics, internal medicine departments and an in-house laboratory. (http://www.kaiyuanhospital.com/kynew/english/). The company is finalizing its plans for refurbishment of the rooms in the existing building, and expansion of the hospital to a 300-bed facility.Of the pipeline for greenfield hospitals development, those in Wuxi and Changzhou are at early planning stage; and the company has not identified future acquisition targets as yet.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.
No contact information provided at the time of disclosure. 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/

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