Intermedica (IFC-38612)

Countries
  • Brazil
Geographic location where the impacts of the investment may be experienced.
Specific Location
Rio de Janeiro; Sao Paulo
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
Proposed
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
NOTRE DAME INTERMEDICA SAUDE 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)
$ 75.00 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)
$ 150.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 12, 2017

Disclosed by Bank Nov 22, 2016

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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.
The proposed project includes a 7-year US$150 million A/B Loan facility (US$75 million from the IFC's own account) to Grupo Notre Dame Intermedica to finance the company's expansion plan and refinance part of its existing debt. Intermedica is Brazil's #4 largest health maintenance organization. The proposed investment plan would include (i) refinancing of the acquisition of Grupo Santamalia (acquired in July 2015), an HMO with 250.000 lives, 2 hospitals (220 beds) and 17 medical centers; (ii) a capex for refurbishment and brownfield investment in hospitals and medical centers including receiving international accreditation for the hospitals; (iii) companies management, admin and working capital needs. With implementation of the investment plan, the company aim to reach some 2.9 million health patients and have over 1.650 beds.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
The Company is fully owned, since 2014, by Bain Capital (''Bain'' or the ''Sponsor''), a US-based PE fund. Bain Capital has important knowledge of the healthcare industry globally. Its existing global healthcare portfolio is comprised of 10 companies including hospitals, labs, med tech and pharmaceutical companies in the US, Europe and emerging markets such as India and China. IFC has recently committed a loan with Lionbridge (project number 37919) a financial leasing company controlled by Bain Capital in China.

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.
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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How it works