Intermedica (IFC-38612)

Countries
  • Brazil
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
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.
Borrower
NOTRE DAME INTERMEDICA SAUDE SA
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 75.00 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)
$ 150.00 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 12, 2017

Disclosed by Bank Nov 22, 2016


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Project 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
  • International Finance Corporation (IFC)
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
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/