Trivitron Africa (IFC-39552)

Countries
  • Kenya
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
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
AFRICAN MEDICAL EQUIPMENT AND SUPPLIES COMPANY
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 Amount (USD)
$ 2.75 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 13, 2018

Disclosed by Bank Mar 9, 2018


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Project Description
Project Description

 Trivitron Healthcare Private Limited (“Trivitron”) was founded in 1997 in Chennai, India as a medical equipment distributor focused on providing high-quality equipment and support services to healthcare providers in India and abroad. From 2007-2012, Trivitron expanded into product manufacturing through a series of joint ventures and acquisitions and now has 9 USFDA, CE certified manufacturing facilities in India, Turkey, and Finland. 

The Project involves a loan of US$ 2.75mm from IFC to help support the creation of Trivitron Healthcare Africa B.V. (“THA” or the “Company”). The Company will provide high-quality medical devices and instruments with reliable after-sales service support, and offer turnkey hospital projects, multi-vendor biomedical engineering services, and academic initiatives, with operations across multiple countries in Africa (the “Project”). The Project is jointly funded and managed by Trivitron and IFHA-II Cooperatief U.A  (“IFHA-II”),  a leading private equity fund dedicated to investing in small and medium enterprises in the private healthcare sector in Africa and an IFC investee.   

THA’s initial offering will include a complete range of products and after-sales service support in laboratory medicine, medical imaging, critical care, operating room and renal care.  The Company will not only distribute and support products manufactured by Trivitron, but it will also distribute and support products from other leading multinational corporations.  In addition, THA will have an exclusive Projects division capable of executing turnkey hospital projects in the African continent and a Multi-Vendor Biomedical Engineering Services division to ensure support for healthcare providers across Africa. The Company will also focus on academic initiatives, offering paramedical and super specialty support courses in association with reputed academic institutions from India and Europe.

Trivitron Healthcare Private Limited (“Trivitron”) was founded in 1997 in Chennai, India as a medical equipment distributor focused on providing high-quality equipment and support services to healthcare providers in India and abroad. From 2007-2012, Trivitron expanded into product manufacturing through a series of joint ventures and acquisitions and now has 9 USFDA, CE certified manufacturing facilities in India, Turkey, and Finland.

The Project involves a loan of US$ 2.75mm from IFC to help support the creation of Trivitron Healthcare Africa B.V. (“THA” or the “Company”). The Company will provide high-quality medical devices and instruments with reliable after-sales service support, and offer turnkey hospital projects, multi-vendor biomedical engineering services, and academic initiatives, with operations across multiple countries in Africa (the “Project”). The Project is jointly funded and managed by Trivitron and IFHA-II Cooperatief U.A (“IFHA-II”), a leading private equity fund dedicated to investing in small and medium enterprises in the private healthcare sector in Africa and an IFC investee.

THA’s initial offering will include a complete range of products and after-sales service support in laboratory medicine, medical imaging, critical care, operating room and renal care. The Company will not only distribute and support products manufactured by Trivitron, but it will also distribute and support products from other leading multinational corporations. In addition, THA will have an exclusive Projects division capable of executing turnkey hospital projects in the African continent and a Multi-Vendor Biomedical Engineering Services division to ensure support for healthcare providers across Africa. The Company will also focus on academic initiatives, offering paramedical and super specialty support courses in association with reputed academic institutions from India and Europe.

Investment Description
  • International Finance Corporation (IFC)
Contact Information

THA stakeholders can contact the company through the numbers and email addresses provided in their webpages or by filling the enquiry form on the Company website. THA will establish an open line of communication with suppliers, customers and contractors and ensure their contacts and brochures are easily accessible to their stakeholders. 

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/