ESIP Clinica SIM (IFC-38505)

Countries
  • Brazil
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
Approved
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
Dec 1, 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
CLINICA SIM S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 3.00 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)
$ 3.00 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 16, 2017

Disclosed by Bank Oct 21, 2016


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Project Description
Clinica SiM is a privately-held company providing healthcare services primarily to lower-middle income residents of Fortaleza, capital of the northeastern Brazilian state of Ceara. As of June 2016 it had 6 outpatient clinics located throughout the city, with 23 additional clinics scheduled to be launched until the end of 2018 and 26 more by 2020, as part of a broader campaign to operate 55 clinics by end-2020. Two of its current clinics are operated as franchises, though the company does not intend to open any new franchises as part of its expansion plan.In addition to medical, dental, and eye consultations Clinica SiM provides basic pathology services such as blood and urine testing, ultrasound exams, and the like, via strategic partners in medical diagnostic services, such as Uniclinica and Roberto Picanzo. Clinics are located in rented facilities in established commercial areas, with easy access through public transportation. IFC's proposed equity investment would help to finance Clinica SiM's continued expansion, through the lease and refurbishment of existing buildings and opening of new clinics across the country.
Investment Description
  • International Finance Corporation (IFC)
The company is primarily owned by its founder and initial investors, and some of the managers hold minority stakes.
Contact Information
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/