Clinicas del Azucar Expansion 2017 (IFC-40669)

Countries
  • Mexico
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
May 11, 2018
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 DEL AZUCAR, S.A.P.I. DE C.V.
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)
$ 4.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 10, 2018

Disclosed by Bank Apr 27, 2018


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Project Description

According to the International Finance Corporation, this project will consist of an equity investment to support Clínicas del Azúcar's expansion plan for the next two years to include approximately ten new clinics in Mexico and and implementation of its digital strategy. 

Early Warning System Project Analysis

The International Finance Corporation gives the following explanation for its B rating:

"Key Environmental & Social risks and issues associated with this project include the adequate management of human resources elements, biomedical waste, occupational health and safety, and the safe design of clinics and evacuation procedures in case of an emergency."                                                  

Investment Description

The International Finance Corporation will invest up to US$4 million of equity as part of Clinica del Azucar's fundraising round. Additional capital will be provided by existing and new investors. 

Private Actors Description

According to the International Finance Corporation's website, Clínicas del Azúcar is a chain of clinics that specialize in the treatment of diabetes and hypertension. The company offers specialized treatment in a one-stop-shop with access to medical consultations, nutritionists, psychologists, laboratory services, and a retail store. The company, headquartered in Monterrey, Mexico was founded in 2011. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - ClĂ­nicas del AzĂșcar Client -

Contact Information

Contact:

 Point of Contact (Name):  Miguel Garza

Title: Chief Operating Officer

Telephone Number: +52 81 2314 5000

Email:  mgarza@clinicasdelazucar.com               

Mailing Address: Los Rosales 365, Santa Engracia, 66267 San Pedro Garza Garcia, Nuevo Leon, Mexico

Website:  http://www.clinicasdelazucar.com/     

 

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/